Argentine farmer wheat sales surge as 2020/21 trading gets underway

New crop wheat sales were 457,000 mt versus 56,000 mt in the same week of 2019, but corn and soybean sales remained slow after a wave of selling and export licence applications came in the final four months of 2019. Total crop sales in the week ending April 15 came in at 1.83 million mt, up 230,000 mt on the previous week, but down close to 1 million mt on the 2.77 million mt contracted in 2019. According to the Buenos Aires Grain Exchange (BAGE), farmers are expected to plant a total of 6.7 million ha with wheat for the 2020/21 crop. This was up 1.5% from the previous year, owing to attractive wheat prices and poorer returns for barley – the main rival for Argentina’s wheat acreage.

Source: Agricensus