Argentina's export registrations of soybeans, soybean meal, and soybean oil were all above the prior year during the week ending 30 October, as grain export bookings slowed.
Soybean meal lead exports registrations during the week, nearly doubling the prior year's volume to reach 266,000 metric tonnes (t), according to the Secretariat of Agricultural, Livestock and Fisheries (SAGyP). Bookings were almost entirely focused on loading in November, with 264,000t registered for the month, and the remainder registered for loading by the end of December.
While the most recent week brought a surge in registrations for November, total export booking for loading by the end of the month reached only 2mn t, below the 2.61mn t registered for November last year. And it appears unlikely November's volumes will reach last year's level, as bookings generally move their focus to December at the end of October. For December this year, the month also lags last year's pace. Through the latest week of October, 538,000t of soybean meal had been booked for loading by the end of December, well below the 1.79mn t registered for the month at the same point last year.
Soybean export registrations remained above last year's level for a second week in a row to reach 49.5mn t, up from the 2.49mn t booked during the week last year. December accounted for most of the volume, with 45,000t registered for loading by the end of the month, while the remaining volume was booked for November.
Like soybean meal, the outlook for November soybean exports lags last year's with 678,000t registered for loading during the month, down from 2.41mn t from the volume booked for November last year.
Soybean oil export registrations fell by 79pc from the prior week to 26,400t, but remained well above the 344t registered during the week last year. Registrations were focused on November loading, bringing the total volume booked for the month to 504,000t, up from the 464,000t for November last year.
Grain export registrations were all lower during the week. Corn export registrations reached 21,000t, all of which were for November loading to bring the total volume for the month to 2.02mn t, slightly below the 2.08mn t booked for November last year. Barley export registrations also reached 21,000t, entirely for November loading.
Wheat export registrations were at nearly half last year's level for the week at 194,000t. November was again the primary month for registrations with 182,000t booked for the month to bring the total volume for loading by the end of November to 1.45mn t, up from 474,000t for November last year. The remaining 12,000t were booked for December loading.
Sunflower oil export registrations remained robust during the week at 29,800 t, up from only 5,210 t booked during the week last year. Sunflower meal export registrations reached 23,500 t, up by 80pc from the prior year. Sunflower seed export registrations were the only sunflower product to see a dip during the week, down by 31pc from the same week last year to 1,300t.
