Regarding the commercialization of the harvest, according to the analysis of the Rosario Stock Exchange, for the moment it maintains a lower rhythm in relation to what happened in previous years. The export sector has acquired 1.4 million tons of beans, behind both the purchase volume of the campaign prior to this date and the average of the last five campaigns. Likewise, foreign sales total 252,000 tons, the lowest volume in 5 years to this date. Finally, the key fact is that the industry’s purchases accelerated in the last month (+2.3 million tons) and total 10.2 million tons, thus exceeding the volume of the average of the last five years and the mark of the same date of the previous year.
In parallel, the corn harvest is also progressing. After revealing a week-on-week progress in the work of 2.6 percentage points, 17% of the suitable area has already been collected. In the same way as with soybeans, frosts recorded during the last few days could negatively impact the yields of late plantings and second occupation. The truth is that it is still premature to also talk about drops in production because the effects of low temperatures will be evaluated in the coming weeks. To date, the production projection at the end of the cycle remains at 49 million tons.
In this framework, the export sector has acquired 19.2 million tons of corn for the 2021/22 campaign, exhibiting an acceleration in the pace of acquisitions compared to the previous month (+4 million tons between February 13 and 23). of March). Regarding foreign sales of cereal, anda 22.9 million tons have been committed, a historical record for this time of year. Currently, the Export Equilibrium Volume defined by the Undersecretary of Agricultural Markets (SSMA) stands at 25 million tons, so 2.1 million tons still remain to be declared to reach the quota.
Finally, continuing with the advance of the harvesters, at the moment the sunflower harvest covers 93.7% of the suitable area, delivering a national average yield of 20.7 quintals per hectare and accumulating a partial production of 3.1 million tons. tons. The projection at the end of the campaign remains at 3.3 million tons.
If the current international prices of grains are sustained and if there is not a strong production cut, the economic projections anticipate that this year the main agribusiness chains will contribute the record of more than US$41,000 million in foreign currency. For now, in April the expected income is more than US$3.5 billion and until next October it is expected that no month contributes less than US$3.0 billion.
Source: Ambito
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