Argentina's grain exports near yearly record

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Publish time: 1st December, 2014      Source: www.cnchemicals.com
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December 1, 2014
   

   

Argentina''s grain exports near yearly record

   

   

   

Argentina sold US$388.6 million in grain during the past week, an 85.7% jump year-on-year, inching the country nearer to a new yearly record, according to the country''s export chambers, Reuters reports.

   

   

However, in the weekly comparison, exports fell 20%, leaving exports for the quarter at US$2.5 billion to date, 44% of the amount agreed between the government and exporters (US$5.7 billion).

   

   

The Ciara and CEC export chambers had settled on a deal with the government promising to export US$5.7 billion in grain by the end of the year, in exchange for government authorisation to export an additional 500,000 tons (1 ton = 0.907 tonnes) of corn and 400,000 tons of wheat compared to the previous harvest, plus another two million tons of wheat of the next harvest.

   

   

Light rains over recent days in Argentina''smain grain region of Buenos Aires, Sante Fe and Entre Rios provided relief from the dry weather, supporting 2014/15 corn and soy planting while helping wheat crops develop.

   

   

As of late last week, the government said 42% of the country''s corn was planted, along with 36% of this season''s soybeans. Wheat was planted earlier in the year and had began being harvested in some areas.

   

   

The United States Department of Agriculture expects Argentina to harvest 12 million tons of wheat this crop year versus 10.5 million in 2013/14, 55 million tons of soy versus 54 million in 2013/14 and 23 million tons of corn this season versus 25 million in 2013/14.