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Argentina wheat harvest enters final stretch

  • Spanish Market: Agriculture
  • 03/01/25

Argentina farmers have entered the final phase of the wheat harvest, following recent rainfall that slowed some progress, according to the Buenos Aires Grain Exchange (Bage).

Wheat harvesting was 94.7pc complete in the week ended 2 January. The harvest advanced by just 6.2 percentage points on account of rainfall that limited progress in southeast Buenos Aires.

The national wheat yield was 3.03 t/ha, up from 2.99 t/ha in the week prior. Bage maintained its forecast for wheat production at 18.6mn t for the 2024-25 crop, despite the national yield increasing steadily each week.

Soybeans

Soybean planting also entered the final stages, advancing by 8 percentage points during the week to 92.7pc completed. Bage maintained its projection of 18.4mn hectares to be planted.

Soybean ratings dropped for the week, with Bage rating the crop as 53pc excellent, 43pc normal and 4pc poor. In the prior week, soybeans were rated as 58pc excellent, 38pc normal and 4pc poor.

Moisture conditions for soybeans were reported as 81pc optimal and 19pc normal, drier than the past week at 88pc optimal and 12pc normal. Most of the soybean growing areas did not receive the rainfall that wheat areas did.

Corn

Corn planting progressed by 6.5 percentage points during the week, reaching 87.4pc completion. Bage maintained its projection of 6.6mn hectares to be planted.

Rainfall in the south of Buenos Aires and in Cordoba improved the conditions for late-planted corn, but moisture conditions for corn declined nationally as much of the crop didn't receive rain amid high temperatures. Corn in south-central Argentina is starting to show signs of water stress, with some yellowing leaves and possible yield loss.

Bage reported corn moisture conditions as 81.5pc optimal and 18.5pc normal, compared to the previous week at 88pc optimal and 12pc normal.

Sunflower

Sunflower harvesting began in Argentina, with the first results having an average yield of 1.88 t/ha. Bage expects the remaining crop to have higher yields.

The sunflower crop was rated as 85pc excellent and 15pc normal for the week, little changed from the week prior. Ratings were significantly higher than this time last year, when the crop was rated as 44pc excellent, 45pc normal and 11pc poor.

The sunflower crop also didn't receive much rainfall for the week, with Bage reporting moisture as 62pc optimal and 38pc normal, down from 65pc optimal and 35pc normal in the prior week.

Bage said 32.4pc of the 2mn hectares of sunflower are in the reproductive stage, and that producers are beginning to worry about the lack of forecast rain.


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14/02/25

Australia’s GrainCorp forecasts higher exports in FY25

Australia’s GrainCorp forecasts higher exports in FY25

Sydney, 14 February (Argus) — Australian bulk handler GrainCorp is forecasting higher exports and grain receivals for its 2024-25 financial year ending on 30 September because of a larger grain crop from eastern states. GrainCorp projects exports to reach 6.5mn-7.5mn t in 2024-25, up from 5.6mn t a year earlier, the company said on 13 February. The bulk handler exported 2.7mn t of grain over 1 October 2024-13 February 2025. The total winter and summer crop output for the states of Queensland, New South Wales and Victoria is estimated to increase by 21pc to 34.2mn t in the fiscal year to 30 June 2025, according to the Australian Bureau of Agricultural and Resource Economics and Sciences. This will support increased grain deliveries to GrainCorp's east coast storage and handling network. GrainCorp is expecting its total grain receivals for 2024-25 to reach 13-14mn t, up by around 30-40pc from 2023-24 . It has received 11.9mn t of this total as of 13 February. Total volumes of grain handled is forecast to rise by 11-18pc on the year in 2024-25. Total grain and oilseeds delivered to GrainCorp's storage and handling network could represent 38-41pc of the total crop produced in summer and winter in Australia's eastern states in the 2024-25 financial year. The US Department of Agriculture (USDA) forecasts Australia to export 25mn t of wheat in the October 2024-September 2025 marketing year. Australia exported 3.87mn t of wheat in October-December 2024, or 15pc of the USDA wheat export target, 46pc of which was exported from eastern states ports, data from the Australian Bureau of Statistics show. By Edward Dunlop GrainCorp Grain Volumes mn t FY25 FY24 % ± Carry-In (1 Oct) 2.5 3.9 -36.0 Receivals 13-14 10.1 29 to 39 Domestic outload 5.5-6.5 5.9 -7 to 10 Exports 6.5-7.5 5.6 16 to 34 Carry-out 2.5-3.5 2.5 0 to 40 Total grain handled 31-33 28 11 to 18 GrainCorp Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

US reciprocal tariffs could hit Brazilian ethanol


13/02/25
13/02/25

US reciprocal tariffs could hit Brazilian ethanol

New York, 13 February (Argus) — Brazil's growing ethanol industry is a likely target for "reciprocal" US tariffs that President Donald Trump plans to impose on products from countries that he says discriminate against US imports. In announcing the plan Thursday to raise US import tariffs to the same level foreign countries charge on US exports, Trump did not specify which countries and products would face the new levies. But a White House fact sheet specifically mentions Brazil's treatment of US ethanol as an unfair practice worth addressing. "The US tariff on ethanol is a mere 2.5pc. Yet Brazil charges the US ethanol exports a tariff of 18pc," the White House said. The US produces more ethanol than any other country, almost all derived from corn. Brazil, the world's second largest ethanol producer, largely uses sugarcane as a feedstock but has a fast-growing corn ethanol industry, too. The disparity in tariff rates has long frustrated US producers, who have become reliant on export markets since ethanol's growth in the US is limited by rising vehicle fuel efficiency, electric vehicle adoption and regulatory constraints on higher blends. The US exported more than 1.9bn USG of ethanol last year according to the Renewable Fuels Association, an all-time high. Renewable Fuels Association general counsel Ed Hubbard told Argus last week that his organization raised the issue of Brazilian tariffs with Trump transition staffers, and the office of senator Chuck Grassley (R-Iowa) said he discussed the same at a recent meeting with Jamieson Greer, Trump's nominee to be US trade representative. Greer said at a recent Senate hearing that Brazil's tariff on US ethanol was among his top priorities. Federal agencies are planning to review trade disparities and report back by 1 April, potentially giving countries like Brazil some time to consider policy changes that might avoid tariffs. Hubbard said he sees the threat of tariffs as a tool to bring Brazil back to the negotiating table on reducing its own restrictions, potentially allowing more US ethanol to enter the country and meet increasingly ambitious national targets for biofuel adoption. At the same time, Brazil could negotiate for changes to US trade barriers, such as a tariff rate quota system for sugar imports and a new 25pc tariff on steel and aluminum imports. If the US does ultimately increase taxes on Brazilian ethanol, trade flows might not change much in the near term. Ethanol trade between the two countries has already dropped off significantly, and the US is oversupplied with renewable fuels used to meet federal blend mandates. While essentially all foreign ethanol in the US is from Brazil, the US imported less fuel ethanol in 2024 than in at least 30 years. But new tariffs would hurt LanzaJet, a US biofuel producer with a plant that imports Brazilian ethanol and refines it into sustainable aviation fuel (SAF). While the company says it can and does use other feedstocks, federal and state clean fuel programs treat Brazilian sugarcane ethanol as lower-carbon. LanzaJet thus earns larger subsidies for producing fuel from sugarcane ethanol than if it used more corn ethanol, which is generally too carbon-intensive to qualify for a new US biofuel tax credit. "Tariffs impacting nascent industries like SAF will undoubtedly hurt the United States' potential to continue to lead in this space — limiting our ability to import necessary resources and export our own for the global market, given aviation is a global industry," LanzaJet vice president for corporate affairs Meg Whitty said. By Cole Martin Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

Upper Mississippi River ice tops 5-year average


13/02/25
13/02/25

Upper Mississippi River ice tops 5-year average

Houston, 13 February (Argus) — Ice measurements taken Wednesday to gauge when barges can transit the upper Mississippi River exceeded the five-year average, according to the US Army Corps of Engineers (Corps). The annual Lake Pepin ice reports — taken by the Corps in February and March at Lake Pepin south of Minneapolis — are a bellwether for when barge transit can resume on the upper Mississippi River. This year's first report found ice at the lake was 19in thick on 12 February, 8in thicker than last year's measurement and 3in above the five-year average. The Corps' initial report last year found only 11in of ice at the lake, thin enough for waterborne traffic to break through. Subsequent reports were cancelled after the Corps said it would be too hazardous for crews and equipment to take additional measurements. Locks along the upper Mississippi River are anticipated to remain closed through 3 March, the Rock Island Corps district in Illinois said on 5 February. By Meghan Yoyotte Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

ACBL sets release dates for Illinois River lock


13/02/25
13/02/25

ACBL sets release dates for Illinois River lock

Houston, 13 February (Argus) — Major barge carrier American Commercial Barge Line (ACBL) has issued its earliest release dates for Illinois River barges planning to transit the Lockport Lock, which closed for maintenance last month. Release dates will be from 23 February through 19 March for barges expecting to pass through the Lockport Lock over the spring season, ACBL said Wednesday. The US Army Corps of Engineers (Corps) expects to reopen the Lockport Lock on 25 March, the Corps said when it announced the closure . The Corps closed the lock on 28 January to install new vertical lift gates and make repairs. The closure has cut off major trade hubs such as Chicago, Illinois, and Burns Harbor, Indiana, from Illinois River barge transportation. Lock 27 and the Mel Price Lock above St Louis will remain partially closed through 1 April, as they are also undergoing maintenance by the Corps, ACBL said. The barge line acknowledged higher demurrage rates were likely for those who loaded barges prior to the released dates. Initial transit on the Illinois River is also anticipated to have a significant backlog in the spring months. By Meghan Yoyotte ACBL's Illinois River release dates Origin Port Barges destined above Lockport Lock, on IL River Mobile, AL 25 Feb Houston, TX 23 Feb Weeks Island, LA 26 Feb New Orleans, LA 3 Mar Pittsburgh, PA 2 Mar Cincinnati, OH 5 Mar Decatur, AL 10 Mar Memphis, TN 10 Mar Evanscille, IN 12 Mar Cairo, IL 16 Mar St Louis, MO 19 Mar — ACBL Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

Brazil’s January inflation lowest since 1994


11/02/25
11/02/25

Brazil’s January inflation lowest since 1994

Sao Paulo, 11 February (Argus) — Brazil's monthly inflation stood at 0.16pc in January, the lowest increase for the month since 1994 when the government enacted multiple measures to contain soaring inflation, according to government statistics agency IBGE. The consumer price index (CPI) slowed annually to 4.56pc from 4.83pc in December, heavily influenced by a 14.2pc tumble in power costs in January, compared with a 3.19pc drop in December. Power costs decelerated January's inflation by 0.55 percentage points — the major individual contributor to the annual drop, according to IBGE — thanks to a R1.3bn ($224mn) federal discount in power tariffs that month, CPI's manager Fernando Goncalves said. Food and beverage costs rose by an annual 7.25pc, decelerating from 7.69pc in December. Beef costs increased annually by almost 21.2pc following a 20.8pc gain in the month prior, while soybean oil costs decelerated to 24.55pc over the last 12 months from 29.2pc in December. Motor fuels prices rose by 11.35pc in January. Ethanol was responsible for the group's largest annual increase of 21.59pc, up from 17.58pc in the month prior. Gasoline and diesel prices also registered annual rises of 10.71pc and 2.66pc from 9.71pc and 0.66pc, respectively. Still, diesel prices remained at a 0.97pc monthly increase from December, while ethanol costs contracted by 1.82pc from 1.92pc and gasoline prices increased by 0.61pc from 0.54pc. Fuel prices are likely to keep increasing in February, as states increased the VAT-like ICMS tax on fuels and state-controlled Petrobras increased wholesale diesel prices by 6.3pc , both effective as of 1 February. Transportation costs rose by 1.3pc in January over the year, following a 0.67pc gain in December. Flight tickets were the most responsible for the increase, with a 10.42pc monthly gain from a 22.2pc contraction in December. Brazil's central bank is targeting CPI of 3pc with a margin of 1.5 percentage point above or below. The bank raised its target rate to 13.25pc in January after it failed to maintain Brazil's headline inflation under the ceiling of 4.5pc for 2024. Further increases are expected in the coming months, the bank said. The central bank has recently changed the way it tracks the inflation goal. Instead of tracking inflation on a calendar year basis, it will now monitor the goal on a 12-month basis. In 1994, Brazil enacted its Plano Real, a series of measures to stabilize the economy and detain soaring inflation, which had hit an annual 916pc by the end of that year. One of the measures was to change its currency to the real from the cruzeiro real. By Maria Frazatto Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

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