The soybean and corn harvest in Javier Milei’s government is currently experiencing a slight delay compared to the previous season, but estimates are already beginning to emerge regarding the volume and value of the grains produced. Good news for the country comes from a notable increase in productivity due to the end of the drought and a recent recovery in international prices.
According to a recent report by IERAL, soybean production is expected to be 100% or more higher than the previous cycle, with estimates ranging from 49-50 million tons. On the other hand, corn estimates are more divergent, ranging from 46.5 million to 55 million tons. Cereal production is expected to be 35-45% higher than the previous cycle. The harvest has begun to pick up pace, although it continues to lag behind previous agricultural cycles, particularly soybeans.
The Buenos Aires Grain Exchange reported that 77% of the area planted with soybeans had been harvested by the end of May, with a delay of 12 percentage points compared to previous years. In corn, only 28% of the harvested area had been reached with a lag of only 2%. Grain prices in the Chicago Market began recovering in May after being downward for much of the year. Soybean and corn prices returned almost entirely to their initial levels while wheat saw a significant increase.
Officials have revealed that until May ended around 20% of grains had been sold at a fixed price, which was lower than historical averages. Marketing is expected to accelerate over time as projections suggest gross and net exports of agroindustrial products will reach US$32.3 billion and US$29.8 billion respectively in 2024, an improvement compared
