During the first half of 2024, soybean imports For the industry, they amounted to 2.2 million tons, for a CIF cost (real value of the goods during customs clearance) of US$980 million. Paraguay is responsible for 95%, according to the Rosario Stock Exchange.
The BCR highlights that This volume represents 20% of the total grinding, the highest in history at this time of year, except for the previous cycle.
An event that is explained in the drought of the previous campaign that suffered a 50% decrease in production. However, between April and June, 1,000 ships were shipped.3.2 million tons of soybeans, flour and oil, the largest volume exported since 2020.
Increased demand for soybeans
For Dante Romano, professor and researcher at the Center for Agribusiness and Food at the Universidad Austral, the increase in imports is not due to lower sales by local producers, but to a greater demand for milling.
Nevertheless, The corn market has also shown remarkable dynamics. Although international prices are at levels similar to those of 2020, in the Chicago market, cereal prices reached a minimum of 153/t dollars, which encouraged bargain purchases.
In that sense Demand for South American corn has remained high, driving up FOB premiums. Romano said: “Sales by producers could be better, but they are not bad either.”
What is happening with grain prices internationally?
In Argentina, FOB conditions for corn have increased by 10/t dollars in a week, reaching 190/t dollars. In the domestic market, the purchasing power of the export sector has raised the price of corn to 160/t dollars, the highest in a month.
Now the weather brings a good omen in the grain market since, according to the United States Department of Agriculture (USDA), the conditions for Corn and soybeans in the North American country are favorable. There is a high probability of above-average temperatures in the West with conditions that may affect the advanced stages of crop development.
At a global level, adverse weather can provide support to prices, while abundant supply acts as a counterweight and limits profits, a situation that affects emerging countries such as Argentina.
Source: Ambito
