December wheat exports grew by 83% year-on-year

JULIO CALZADA - FEDERICO DI YENNO

According to NABSA data, wheat exports would reach 2.7 Mt in December, establishing a 30-year record. About 88% of wheat exports are shipped from Rosario Hub terminals. Assuming an average FOB price of US$ 228/t in December, wheat exports would reach US$ 615 million. This implies an 83% increase compared to December 2017 (US$ 336 million).
The increase of December wheat shipments is the result of a faster pace of business underpinned by attracted prices. The average price for MATba (Buenos Aires Futures Market) December future was US$ 186.50/t. This is 16% higher than the average price for MATba December future last year (US$ 160.10/t). The elimination of export quotas allowed exporter to plan logistics and then improved the pace of business at harvest.