Corn continued to dominate export registrations in Argentina, accounting for 60pc of total volume and climbing to a record for the week as the focus for shipping moved to May.
Argentinian exporters registered 1.95mn metric tonnes (t) of corn for sales abroad in the week through 11 April, more than double the 816,000t in the same week a year earlier, according to data from the Secretariat of Agriculture, Livestock and Fisheries.
Argentina's advancing corn harvest boosted stocks of the grain to a record at the start of April, providing abundant supplies to meet steady demand from buyers in the Middle East and North Africa.
Total export registrations for all crops reached 3.25mn t in the week — up by 20pc from the previous year — primarily driven by the surge in corn exports. Corn also led the shift in loading interest to May, with the entire volume registered for loading by the end of the month. Farmers registered a total of 3.17mn t of grains and oilseed products for loading in May, with the remaining 81,000t registered for June.
Soybeans, meal, oil remain lower
Export registrations of soybeans, soybean meal and soybean oil were all again below the prior year's level for the week, as stocks for crushing have tightened in recent months.
Soybean meal registrations fell by nearly 12pc from a year earlier to 787,000t, but remained the second-most registered agricultural product for export. Soybean registrations also slumped in the week, dropping to just 5,570t from 533,000t a year earlier. Soybean oil registrations fell by 2.1pc to 140,400t.
Export registrations of other oilseed products all rose in the week from a year earlier, with other oilseeds registrations more than doubling from last year to 5,950t. Registrations of other oilseed meals increased by nearly 18pc to 22,400t, while other oils rose by nearly 32pc to 9,550t.
Wheat registrations remained above last year's levels for a fourth consecutive week, more than doubling from last year to 262,800t. But barley registrations remained subdued at 53,110t, down by 35pc from loadings in the same week last year.
