Positive tones for South American grain exports
Argentina and Brazil are among the world’s top grain-producing and exporting countries.
With Argentina’s planting now complete and Brazil’s harvest steadily progressing, along with the fact that Brazil is set for another record soybean crop in 2017, the east coast south America (ECSA) grain season is expected to see a rise to healthier levels in the coming months as more cargoes come to port for shipment and tonnage supply struggles to keep up.
Argentina is the world’s 2nd largest exporter of corn and 2nd largest exporter of soyabean meal. It is also a major player in the world wheat market.
- Argentina’s 2016-17 wheat production is forecast to be around 15.5 million tons (total supply of 16.5 million tons) of which around 9 million tons are expected to be exported which is up 800,000 tons from last year.
- Argentina’s 2016-17 soyabean production is forecast to be around 58.8 million tons (total supply of 67.3 million tons) of which around 9 million tons are expected to be made available for export.
- Argentina’s 2016-17 maize production is forecast to be around 39.8 million tons (total supply of 43.7 million tons) of which around 22.5 million tons are expected to be exported.
Brazil is the world’s largest exporter of soyabeans and also a key player in the world corn market.
The top growing state of Mato Grosso’s harvest has surged to 31 percent complete as compared to 14 percent last year in part due to an earlier than usual planting period.
- Brazil’s 2016-17 soyabean production is forecast to be around 95.4 million tons (total supply of 97.4 million tons) of which around 51.6 million tons are expected to be exported.
- Brazil’s 2016-17 corn production is forecast to be around 67 million tons (total supply of 78.2 million tons) of which around 16 million tons are expected for export.
Ryan Girling – Chartering