Argentina Wheat Exports Eyeing the Future Crop
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As the 22/23 Argentina Wheat crop planting pace lags behind the average, the market eyes South America as an alternative to Ukraine in the coming marketing year. Indeed, Argentina Wheat exports surged in Mar 22, increasing 2 Mmt YoY, essentially due to the Ukraine conflict. Argentina increased monthly Wheat exports every month so far in 2022, with a combined volume of 15.6 Mmt exported in Q1 & Q2 (+7.9 Mmt YoY). However, Ukraine exported 2.2 Mmt of Wheat before the war per month and on average. As importers rely more and more on Argentina to source their Wheat, can Argentina continue the upward trend with its new crop later this year?
2022 Argentina Monthly Wheat Exports
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