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Argentina soymeal exports set to rise
Argentina soymeal exports set to rise
St Louis, 28 July (Argus) — Argentina soybean crushers are likely to increase soybean meal exports in the coming months as the domestic soybean market appears well supplied and prices have strengthened. Crushers increased their reliance on imported soybeans in June to maintain elevated meal production levels, increasing imports from the previous year by 41pc to reach 895,000 metric tonnes (t). Farmer reluctance to sell this year's crop likely supported imports, with deliveries from domestic producers falling by 3.1pc from the previous year to 3.32mn t in June. But farmers still have an estimated 29.2mn t of the current soybean crop to sell at the start of July, up by 21pc from the previous year, due to their slower selling pace. Even with increased soybean crushing in June , combined imports and domestic deliveries were enough to push soybean stocks held by crusher on 1 July up by 17pc from a year early to 4.11mn t, the most volume held by crushers ever. Combining the unsold volumes still held by farmers and the supply in the crushers' hands, Argentina's soybean crushing industry had access to 33.3mn t of soybeans at the start of July, a 21pc — 5.68mn t — increase from the start of July last year. Crushers may be increasing soybean meal production this month, with farmers selling 1.27mn t of this year's harvest to domestic users during the first two weeks of July, up by 20pc from the same period last year. And volumes registered for export increased as well, with 3.53mn t booked since the start of July for shipping in the months ahead, eclipsing the 727,000t booked during the same period last year. To meet these obligations, crushers will need to expand on the 764,000t of soybean meal they held in storage at the start of July, which was a 15pc reduction from the volume they held on 1 July last year. Higher prices should motivate crushers to increase activity. Since the start of July, basis for September loaded soybean meal fob upriver has increased by $3.50/short ton (st). At the same time, the September futures contract on the Chicago Board of Trade increased by $15/st to put the Argus assessed value at $322/st as of 27 July. All signals indicate that Argentina's oilseed processors have increased crushing this month and could have a more active August — when crushing volumes typically slow — as prices have become more supportive. And Argentina's market should be well supplied to meet the increasing crushing demand. See Argentina soy products supply and usage data for more details. By Ryan Koory Argentina soymeal exports mn t Argentina crushers soybean stocks mn t Argentina crushers soymeal stocks mn t Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
Egyptian corn buyers weigh up options as demand rises
Egyptian corn buyers weigh up options as demand rises
London, 27 July (Argus) — Egypt could ramp up corn imports from the Americas in the coming months to support an expanding domestic poultry sector and replace disrupted supply from Ukraine. Egypt's corn imports in both the current 2025-26 and upcoming 2026-27 (October-September) marketing years are set to reach 13mn t/yr or more, well above the previous highs of 10.5mn t, according to the latest projections from the US Department of Agriculture (USDA). The jump reflects rising demand from the country's poultry sector, with domestic feed consumption estimated at 16.4mn t for the current marketing year and 17.4mn t for 2026-27, about 4mn t above the yearly average in 2020-24. Current disruption to corn exports from Ukraine — in past years neck and neck with Brazil as Egypt's top supplier — come at a time when Egypt's importers could step up activity after a slowdown in arrivals over the past three months. Egypt's monthly imports peaked this current marketing year in March at 1.4mn t, before slowing progressively in the past three months to just 241,000t in June, Kpler vessel-tracking data show, as lower poultry prices cut import margins. This brought cumulative corn arrivals so far in 2025-26 to around 8mn t as of end-June, which would require the pace of imports to accelerate back to upwards of 1mn t/month if Egypt's importers are to keep pace with USDA-projected demand. Slower exports from Ukraine could last for some months, even if exports via the country's Black Sea ports resume. Silos are increasingly full of winter-harvested wheat, barley and rapeseed crop, as well as 5.4mn t of old-crop corn, Argus estimates. Once the new-crop corn harvest arrives in two months' time, Ukrainian producers may resort to leaving some corn unharvested in the fields until spring 2027, potentially leading to quality issues in what is otherwise expected to be Ukraine's largest corn crop in the past five years. Egypt well-supplied with Brazil and Argentina A lack of exportable supply from Ukraine could cement Brazil as Egypt's top supplier, but may also open the door to increased shipments from Argentina and the US. Brazilian corn has already accounted for well over half of Egypt's imports in October-June of the current marketing year, Kpler data show. This continues the trend from 2024-25, when Brazilian exports to Egypt doubled on the year to make up almost two-thirds of the Brazilian import market, according to customs data, significantly outpacing shipments from the next largest suppliers in Ukraine and Argentina. But Brazil's corn export sales have stalled recently as fob prices rise. The price of Brazilian corn fob Santos/Tubarao ended the week to 24 July at a three-month high, at a time when prices would usually be under seasonal pressure from the incoming second corn crop. Fob sellers have raised basis to the Chicago Board of Trade (CBOT) September corn futures contract as exporters compete with domestic demand from the ethanol sector, accelerating the effect of climbing prices on the underlying futures contract. In the meantime, Argentinian corn could regain its share of the Egyptian market after a decline in shipments in the past four marketing years. Vessel-tracking data show arrivals of Argentinian corn in Egypt in the first nine months of 2025-26 at 1.8mn t, already surpassing total receipts from Argentina in any marketing year since 2020-21. Argentinian farmers still hold large stocks of corn, and both exporters and farmers have sped up sales this month as CBOT futures rise. This has kept export prices competitive, at least in basis terms to Chicago futures, in contrast to Brazil. Sellers last week offered Argentinian corn at a 80¢/bu premium to the September CBOT corn contract, compared with a 109-135¢/bu premium on offer from Brazil. Looking ahead to the end of Argentina's peak export season, strong Egyptian demand could also pave the way for increased corn imports from the US, until now a relatively small supplier in Egypt, once US new-crop arrives from September. This could leave Egyptian importers increasingly vulnerable to volatile prices in the global market if exports from Ukraine remain limited. The December contract on Chicago-listed corn futures is currently trading at a historical discount to Euronext November corn futures, leaving some way for the US contract to rise if current concerns over drought in the western corn belt prove damaging to US harvest prospects. By Erik Metaliaj Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
Brazil's Mato Grosso winter corn harvest at 90.7pc
Brazil's Mato Grosso winter corn harvest at 90.7pc
Sao Paulo, 24 July (Argus) — Brazil's central-western Mato Grosso state advanced its 2025-26 winter corn harvest by 11.7 percentage points this week. Harvesting reached 90.7pc of the total sowed area as of Friday, according to the state's institute of agricultural economics Imea. Progress is slightly ahead of the 90.4pc harvested at the same period in 2025 for the 2024-25 crop, but below the 92.7pc five-year average for the period. Mato Grosso's 2025-26 corn crop production is estimated at 57.1mn metric tonnes (t), up by 3pc from the previous season, according to Imea's latest projections . Yields and planted area are projected at 128.64 bags/hectare (ha) and 7.4mn ha (74,000km²), respectively. That compares with 127.27 bags/ha and 7.3mn ha in the 2024-25 crop. Cotton Mato Grosso's 2025-26 cotton harvesting reached 13.1pc of the total sowed area, progressing by 4.8 percentage points in the week, Imea said. The progress is ahead of the 9.75pc harvested for the week a year earlier for the 2024-25 crop but lags the 21pc five-year average. Imea estimates the current cotton lint production to reach 2.63mn t, below the almost 3mn t in the prior cycle. Yields should total 310.7 bags/ha, a 1.4pc drop from the 2024-25 crop. Planted area is estimated to reach almost 1.4mn ha, down from 1.5mn ha in the prior cycle. By Bruno Castro Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
Argentina soy, sunflower meal exports build
Argentina soy, sunflower meal exports build
St Louis, 24 July (Argus) — Argentina's exports continued to register large volumes of soybean meal and sunflower meal this week, with cargoes booked for export into the fourth quarter. Shippers registered 957,000 metric tonnes (t) of soybean meal for export during the week ended on 24 July, a significant increase from 129,000t registered for the week last year, according to the Secretariat of Agriculture, Livestock and Fisheries (SAGyP). Sunflower meal export registrations reached 106,000t during the week, up from the 19,000t registered a year ago. Both have seen significant increases over the past two weeks, with volumes registered for loading as far out as November. During the most recent week 474,000t of soybeans were registered for loading by the end of August. The remaining volumes were registered for loading by the end of September and October, at 83,000t and 400,000t, respectively. August was also the primary month for sunflower registrations, with 48,000t booked for loading during the month. The remainder were distributed across September, October, and November. Despite the recent increase, soybean meal export registrations for August remained below last year's level as of 23 July at 2.82mn t, down from 2.96mn t last year. Sunflower meal registrations, in contrast, were ahead of last year, with 214,000t registered for August loading, up from 9,300t last year. And volumes are likely to increase as bookings for the month historically continue through July and into the first week of August. August corn, wheat exports build Grain export registrations were also active during the week with expectations for August loading exceeding last year's levels. Exporters registered 449,000t of corn for export, all of which was for August loading. With the most recent week, Argentina's exports have booked 2.86mn t of corn for loading by the end of August, up from the 2.37mn t registered for the month last year. Wheat export registrations were also entirely focused on August loading, reaching 197,000t during the week. Wheat registered for loading by the end of August reached 734,000t at the end of the week, up from the 626,000t booked for the month last year. No barley was registered during the week, leaving export volumes likely to fall sharply in August. Only 5,900t has been registered for loading by the end of the month, down from 206,000t last year. Sunflower, soybeans dip Soybean and sunflower seed exports are likely to be lower in August compared with last year, as meal and oil exports dominate trade. During the most recent week, exports registered 516,000t of soybeans for export, most of which were booked for loading by the end of September. So far only 191,000t of soybeans have been registered for August loading, down from 2.01mn t last year. And sunflower seed export registration fell to 2,000t during the week—split across August and October loading—bringing the total volume registered to load by the end of next month to just 12,000t. Soybean oil and sunflower oil are likely to see higher exports in August compared with last year. During the week, exports registered 61,000t, 50,000t of which was for loading by the end of August, bringing total volumes for the month to 437,000t, above the 412,000t registered for August last year. And 59,000t of sunflower oil was registered for export, with most of the volume booked for loading by the end of October. But the month of August still had 206,000t of sunflower oil registered for export loading at the end of the week, up from 88,000t last year. By Ryan Koory Argentina soybean meal export registrations through 24 July mn t Argentina sunflower meal export registrations through 24 July '000 t Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
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