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Latest Market News

US export inspections down across key crops: USDA

  • Spanish Market: Agriculture
  • 28/10/25

US export inspections of soybeans, corn, and wheat all fell during the week ended 23 October from the prior week, pulling export inspections to a seven-week low.

Total US crop export inspections — which can be used as a proxy for overall export volumes — fell to 2.55mn t for the week, down from 3.28mn t the week prior and the lowest inspected volume since the week ended 4 September, according to US Department of Agriculture (USDA) data.

Soybean inspections dropped to 1.06mn t from a calendar-year-high 1.47mn t in the previous week. Even with the decline, the week's soybean inspections remained above 1mn t for just the sixth time since the start of 2025.

Mexico, Egypt, Italy, and Germany were the biggest destinations for soybeans during the week, set to receive a combined 553,000t of the overall inspected volume.

Corn inspections fell by 9.9pc for the week ended 23 October to 1.19mn t, with 366,000t alone destined for Mexico. The US' southern neighbor has been highly active in purchasing American corn this, having already secured 8.91mn t of corn as of 18 September, according to the most recently available US Department of Agriculture data.

Colombia and South Korea were the only other countries set to receive over 100,000t, with 185,000t destined for the former and 174,000t for the latter.

Wheat export inspections had the most precipitous decline, falling by 46pc from 481,000t to 259,000t, the lowest inspected volume since the week ended 19 June. Nearly half of the inspected volumes — 110,000t — were for delivery to South Korea.

By Joseph Crosby

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04/12/25

Brazil increases 2025 coffee crop outlook

Brazil increases 2025 coffee crop outlook

Sao Paulo, 4 December (Argus) — Brazil is set to produce its third-largest coffee crop ever this year, despite it being a low productivity year in the crop cycle, according to national supply company Conab's last crop estimate for this cycle. Brazil will produce almost 56.5mn 60kg bags of coffee this year, up from the previous forecast released in September of 55.2mn bags. The upward revision was driven by higher average national productivity, reflecting a better performance of Conilon coffee crops, one of the two major types of coffee grown in Brazil. This is above the 51.8mn bags first projected for the season and surpasses the 2024 crop, which produced 54.2mn bags. Droughts, irregularly distributed rainfall and high temperatures severely hampered yields in the prior cycle, despite initial expectations for a high-producing one. Coffee cycles occur biennially in Brazil, with larger volumes produced in alternating years. During the lower producing years — known as negative years — plants replenish their nutritional reserves, leading to reduced output. The 2025 cycle is considered a negative year, with the current estimate representing an all-time high for a negative year, topping the record registered in the 2023 crop, when Brazil produced nearly 55.1mn bags. It is expected to rank as the third-largest in the nation's history, only behind the positive cycles of 2020 and 2018, which produced 63.1mn bags and 61.7mn bags, respectively. Conab revised the outlook for the current cycle based on an increase in expected yields to 30.4 bags/hectare (ha) from 29.7 bags/ha in the prior forecast. That is up by 5.5pc from 28.8 bags/ha in the positive 2024 year and compares with 29.4 bags/ha in the negative 2023 cycle. Brazil grows two types of coffee: the higher-grade Arabica coffee and the Conilon grade coffee, also referred to as Robusta. These varieties have different taste, caffeine content and productivity levels, as well as distinct producing regions and harvesting calendars. Arabica coffee production is forecast at around 35.8mn bags, ahead of the nearly 35.2mn bags projected in September, but down from 39.6mn bags in 2024. There has been significant vegetative recovery in crops, mainly in southeastern Minas Gerais state, Brazil's largest producer, which contributed to an increase compared to the previous estimate, according to Conab. Yields rose to 24.1 bags/ha from 23.7 bags/ha in September. That is behind the 26.2 bags/ha in 2024. Conilon coffee output should reach an overall record of 20.8mn bags, up from 20.1mn bags in the previous outlook following the consistent weather conditions in major producing states Espirito Santo and Bahia that promoted good conditions for areas and resulted in high yields. That compares with 14.6mn bags in the prior cycle. Yields are up to 55.9 bags/ha, from 53.8 bags/ha estimated in September and 39.2 bags/ha yielded in 2024. Conab continues to expect the total area allocated to both coffee grades to reach approximately 2.25mn ha this cycle, 0.9pc above on the year. The area set aside for coffee is split between space for production and new crops. Areas allocated to crops in production fell by 1.2pc on the year to nearly 1.86mn ha. New areas account for around 396,428ha, up by 12pc, as is usual for negative years. Coffee exports fall on year Brazil exported 34.2mn bags of coffee in January-October, around 17.8pc below the total shipped in the same period a year before, according to trade ministry Mdic data. This reduction in volume exported in the first ten months of 2025 is mainly because of limited domestic stocks at the beginning of the year, following a record shipment of 50.5mn bags in 2024. Tariffs imposed by the US from April onwards, a major buyer of Brazilian coffee, also contributed to the reduction in exports. Brazil exported coffee to 150 countries in the first ten months of 2025. The US and Germany accounted for the largest share of shipments, with 14.1pc and 14pc, respectively. Italy received 8.1pc of exports, Belgium and Japan 6.3pc each. By João Petrini Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

Bessent shifts China soy purchase deadline

03/12/25
03/12/25

Bessent shifts China soy purchase deadline

Houston, 3 December (Argus) — China is on pace to purchase 12mn t of US soybeans by the end of February, according to US treasury secretary Scott Bessent, falling short of the previously stated deadline of the end of 2025. At an event Wednesday, Bessent claimed China's soybean purchasing was on pace to reach its target "by the end of this season, so I think that'll be February 28". Bessent added that China is in a "perfect cadence" to reach the 12mn t purchasing milestone. Bessent's comments, though, are in direct contradiction with the 31 December deadline set by the the White House, which on 1 November said China would buy 12mn t of US soybeans by the end of 2025. Chinese purchases, which restarted at the end of October after a five-month pause, have been slow, with only 2.26mn t in confirmed sales to date, spawning fears that the country would fall short of the 12mn t figure this year. Small-volume soybean purchases made by China since 30 October will not be confirmed in the US Department of Agriculture's export sales reports until at least 8 December. No large-volume purchases have been reported since 28 November, despite some market participants expecting sales reports earlier this week. Bessent later added that China's "purchase by their central government is well into the correct cadence", seemingly confirming that state-owned firms are driving the purchases of US soybeans. Private processors have kept their sights set on Brazil's crop, according to market participants, which has been both cheaper than US product and faces a lower tariff rate. By Joseph Crosby Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

Adecoagro makes offer for remaining 50pc in Profertil

03/12/25
03/12/25

Adecoagro makes offer for remaining 50pc in Profertil

Sao Paulo, 3 December (Argus) — Argentinian agribusiness company Adecoagro submitted a binding offer to buy YPF's 50pc stake in Argentinian nitrogen producer Profertil. YPF's stake in Profertil is expected to be of around $600mn, Adecoagro said. YPF's board of directors needs to approve the proposal and that is expected to take place this month. Adecoagro would become the controlling shareholder of Profertil, holding 90pc of the total share capital. Argentinian grain cooperative ACA will hold the remaining 10pc. The proposal mirrors terms and conditions agreed between Adecoagro and North American fertilizer producer Nutrien. Nutrien agreed in September to sell its 50pc stake of Profertil to Adecoagro and ACA. Adecoagro will finance the transaction through a combination of existing cash reserves, an already committed long term credit facility and proceeds from share sales. Profertil is Argentina's leading fertilizer producer, supplying around 60pc of Argentina's urea consumption. It can produce 1.3mn metric tonnes (t)/yr of urea and 790,000 t/yr of ammonia. It operates a distribution network at major ports and the Bahia Blanca nitrogen complex, with warehouses in Puerto General San Martin, San Nicolas, Necochea and Loma Paraguaya. The firm is also a large importer of other finished fertilizers, such as DAP, MAP and potash. Profertil has storage capacity for 150,000t of urea and 20,000t of ammonia at its Bahia Blanca site. By João Petrini Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

EU readies new bioenergy strategy

26/11/25
26/11/25

EU readies new bioenergy strategy

Brussels, 26 November (Argus) — The European Commission is today expected to adopt a new strategy aimed at boosting "nature-positive" investment and making better use of biomass. The latest version of the strategy seen by Argus deleted wording from a previous leaked draft that mentioned disincentivising "inefficient" biomass combustion, including changes to EU and national subsidies to avoid prioritising combustion over material use. Industry groups last month had criticised the previous draft strategy for "punishing" biomass combustion and ignoring the role of sustainable biofuels. The commission may still amend the current strategy document, which sets out a direction for policies but is not itself a legal proposal. Demand for biofuels will likely rise from 2025, in part thanks to the bloc's ReFuelEU Aviation and FuelEU initiatives, but sustainable biomass remains finite and its use is most effective in hard-to-abate sectors, the commission said in the document. The commission wants to add value to energy, industry, food, health and other sectors through biomass processing and biotechnology. The body said it would, for example, support uptake of bio-based plastics and novel materials by 2027 alongside recycling. Officials could also assess whether EU-wide definitions could support certification and scaling of bio-based polymers. And an EU methodology could certify long-lasting biogenic carbon storage in buildings under the carbon removal and carbon farming certification framework. The commission will issue legislation such as the upcoming BioTech Acts to bolster industrial production of bio-based chemicals and may target bio-based content requirements in some products. In the strategy, the commission and the European Investment Bank will use finance instruments to support biorefineries that incorporate new technologies. And a forthcoming Circular Economy Act aims to support biogas and biomethane production as well as using digestate as a fertiliser. A review next year of the bloc's emissions trading system will also explore potential for scalable biogenic carbon, capture, use and storage projects. The EU is also scheduled to review its Renewable Energy Directive by 2027 and assess how national biomass support schemes affect biodiversity. Dafydd ab Iago Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

Australian farmers oppose Santos' Narrabri gas pipeline

26/11/25
26/11/25

Australian farmers oppose Santos' Narrabri gas pipeline

Sydney, 26 November (Argus) — Australia's largest farmers' organisation has hired lawyers in an escalation of plans to oppose Australian independent Santos' Narrabri coal seam gas project in northwestern New South Wales (NSW) state. NSW Farmers will seek to defend Australia's groundwater from mining giants that could contaminate artesian resources, the lobby representing the state's primary producers said on 26 November. It is not clear what avenues remain open to NSW Farmers who are appealing previous approvals for Narrabri. Senior counsel will investigate and report back regarding legal options, a spokeswoman for the organisation said. But the NSW government has found the risk of any significant impacts from Narrabri are low, a Santos spokeswoman said, adding that the state's Land and Environment Court had already dismissed an appeal against project approvals in 2021. The controversial Narrabri project has cost Santos more than A$1.5bn ($970mn) since 2011 and faced long-term opposition from the region's native title holders, the Gomeroi. An appeal against the National Native Title Tribunal's approval of the project was to be heard by the Federal Court of Australia in November but the judge presiding has excused herself from the case, citing a perceived conflict of interest. The case is now likely to be heard in 2026. Santos has continued to sign offtake deals for the domestic supply scheme , as it pushes forward with easement deals for landholders along its proposed 833km Hunter gas pipeline needed to transport the gas. The state government has swung firmly in favour of the development, with NSW Labor premier Chris Minns last month flagging compulsory land acquisition to secure the pipeline route. Santos acquired Narrabri in 2010 and has said the project could supply 150-200 TJ/d (4mn-5.34mn m³/d) into the NSW gas grid to ease shortfalls predicted in eastern Australia's network from 2029 . By Tom Major Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

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