More than half the estimated production in Argentina has already been
bought by millers and exporters, deliveries committed for Rosario’s
port hub from December 2017 to February 2018 are already 1.2 million
ton above last year’s, while total exports for our country are
projected 5 million tons above last 5 year’s average. Marketing for
2017/18 Argentinian wheat is advancing at full speed.
Exporters and millers have already bought 8.9 million tons (second highest
volume on record) of wheat from an estimated production of 17.3 million
tons. That means that more than half the production has already arrived to
the final consumers of the grain, well above last year’s average.
At the same time, committed deliveries at Rosario’s terminal ports are well
above last year. Between December 2017 and February 2018 4.6 million tons
of wheat have already been compromised for delivery in this ports hub, 1.2
million above the volume traded at this time of the previous year as it’s
shown in the next chart, based on official data.
With regard to prices, the adjusted balance between supply and demand of
the grain for the marketing year 2017/18 gave support to domestic market
values at Rosario Board of Trade, and reference prices for wheat are at its
highest level of the year so far.
As it can be seen in the last chart, based on USDA data, Argentina is
called to increase noticeably its wheat’s exports to the world. For
2017/18, total exports may be 5 million tons above the past 5 year’s
average. Even when Russia’s performance is leading the increases, our
country role as wheat provider for the world is outstanding.