Required Report: Required - Public Distribution Date: January 24, 2025

Report Number: AR2025-0001

Report Name: Grain and Feed Update

Country: Argentina

Post: Buenos Aires

Report Category: Grain and Feed

Prepared By: Kenneth Jospeph

Approved By: Chase Mcgrath

Report Highlights:

Wheat production in marketing year (MY) 2024/25 is estimated at 18.1 tons, higher on a larger area.
Exports remain unchanged, with Brazil expected to be quite active. Barley production and exports in
MY 2024/25 are expected to remain unchanged from the previous update. Corn production in MY
2024/25 is estimated at 49 million tons, although the current dry spell and high temperatures suffered in
practically the whole country could hurt potential yields unless widespread rains are present soon.
Smaller production would have a direct impact on exports, estimated at 34 million, practically
unchanged from the previous year. Sorghum production in MY 2024/25 is estimated at 3.8 million tons,
with exports at 1.5 million tons. While China has imported little Argentine sorghum year to date, it
normally imports the bulk of it in the second half of the marketing year. Rice production in MY 2024/25
is now estimated up at 1.5 million tons rough base as good weather so far is expected to allow the
harvest of all planted f

THIS REPORT CONTAINS ASSESSMENTS OF COMMODITY AND TRADE ISSUES MADE BY USDA STAFF AND NOT NECESSARILY
STATEMENTS OF OFFICIAL U.S. GOVERNMENT POLICY
Wheat

Post estimates marketing year (MY) 2024/25 wheat production at 18.1 million tons, 600,000 tons higher
than USDA official on an area at 6.2 million hectares, 200,000 hectares higher than USDA official.
While the current Argentine official estimate sets production at 17.6 million tons on a planted area of 6.3
million hectares, all private sources’ estimations on production range between 18.0-18.8 million tons.
The harvest just finished. Throughout the growing cycle, erratic weather changed projections several
times and made it difficult to estimate the state of the final crop. Just before the planting season began in
May, dry weather, low wheat prices and high fertilizer prices anticipated a drop in area. However, an
unexpected rainy April brought good soil moisture while a world wheat price rally in conjunction with
lower prices of nitrogen fertilizers encouraged local farmers to plant more wheat than earlier expected.
Good rainfall accompanied during a colder-than-usual winter, but spring in the center-south of Buenos
Aires province, the country’s main wheat belt, was quite dry, with high temperatures in late October
which affected somewhat yields in many fields. While yields in this area were not consistent, yields in
the central-northern part of the country were higher than earlier expected.

Photo #1

Source: Ing. Gustavo Franco, Agustin Roca, Buenos Aires province

Harvest in early December, yield at 4.1 tons/hectare

Contacts indicate the quality of Argentine wheat this year is mostly good, mainly due to a dry spring
which helped reduce end of cycle diseases. The good quality will allow those which have stocks of last
year’s crop to blend it and improve its commercial quality standards. In general, stocks of the MY
2023/24 are located south of highway 7, mostly held by town elevators and at a lower extent, in silo
bags at farms.

Wheat ending stocks for MY 2024/25 are forecast at 4.1 million tons, 596,000 tons higher than USDA’s
official number primarily due to Post’s higher wheat production estimate.
Wheat farmer selling of the MY 2024/25 is running 12 percentage points slower than normal, with
farmers trying to capture higher prices. The spot price on January 10 was $192-200 per ton. Farmers
who rent land come out breakeven at a price of roughly $210 per ton and have a reasonable profitability
at $220 per ton. In May 2024, when the December 2024 forward price was at $240-250 per ton, farmers
committed about 12 percent of the crop. The future price then started to decline and at $210 most
farmers stopped selling. The problem is that exporters and country elevators need to move most wheat
before March/April to make room for the new corn and soybean harvest. Farmers will want higher
prices before selling more, especially after the harvest pressure eases and knowing that Brazil will be
active in future months.

Wheat exports in MY 2024/25 are forecast at 11.5 million tons, the same as USDA official (this volume
includes wheat flour in its grain equivalent). Exporters indicate Argentine wheat is currently price
competitive, with exports going primarily to Brazil and Indonesia in the first two months of the new
marketing year. Other significant markets are expected to be Vietnam, Bangladesh, Cameroon, Peru, and
Ecuador. Local traders are closely monitoring Russian wheat export potential as they believe these could
be smaller, opening some opportunities for Argentine exports. Brazil is expected to import 5-6 million
tons of Argentine wheat, as its domestic production is smaller than earlier expected and reports indicate
that there could be some quality issues with production in southern states.

Exports in MY 2023/24 (including wheat flour in its grain equivalent) totaled 8.2 million tons, a
substantial increase from the previous year which had serious production problems.

Based on data reported by Trade Data Monitor, Argentine wheat (grain only) exports in January-
November 2024 totaled 6.83 million tons for a value of $2.09 billion. Of the volume, 383,000 tons were
grouped and listed under “Confidential” without specifying destination or volume. Based on data
reported by Nabsa shipping agent, wheat exports in Calendar Year 2024 totaled 7.94 million tons,
distributed as follows:

Chart #1

Argentine Wheat Exports

Calendar Year 2024

Colombia
Kenya 2%
3%
Other
Vietnam 13%
3%
Ecuador
3%
Brazil
Peru Indonesia 53%
4% 19%

Source: Post with Nabsa data

Argentine wheat flour exports have been dropping in the past few years, primarily due to economic
problems in Bolivia, one of the two historic main markets together with Brazil. The following chart
shows the evolution of wheat flour exports by destination since 2019:

Chart #2
700000
AR Wheat Flour Exports
600000

500000

Other**
400000 Cuba
Uruguay

300000 Chile
Bolivia
Brazil
200000

100000

0
2019 2020 2021 2022 2023 2024*

Source: Post with Trade Data Monitor

* January-November
** Includes “confidential” (does not identify destination)

Barley

Post estimates Argentine production in MY 2024/25 at 5.0 million tons, 100,000 tons higher than USDA
official, on a somewhat larger harvested area. Most contacts estimate production between 4.9-5.3 million
tons. The Secretariat of Agriculture recently increased its planted area estimate by 100,000 hectares,
based on preliminary data processed from their ground truth findings. The harvest is practically
completed with an estimated average yield lower than earlier expected and lower than in the past few
crop seasons because of erratic rains during the production cycle and high temperatures in late October.
Yields in the southeast of Buenos Aires province, the country’s main barley area, were the most affected
by these weather conditions. Barley production in Argentina continues to be concentrated in the province
of Buenos Aires, accounting for approximately 90 percent of the total. Minor barley areas are found in
La Pampa, south of Santa Fe and Cordoba provinces. Contacts report that the quality of the early planted
barley suffered.
 Photo #2

Source: Ing. Fernando Meoli, Southwest Buenos Aires province

Yield at 4.1 tons/hectare

The commercialization of the MY 2024/25 feed barley crop is running slow, primarily with farmers
trying to sell at higher prices as returns are very slim. Based on official data, exporters have requested
certificates for a total of 900,000 tons of feed barley for the period December 2024 - March 2025, when
in the past marketing years certificates were closer to 1.3-1.4 million tons in the same period. Exports
for MY 2024/25 are estimated at 3.4 million tons, 100,000 tons lower than USDA. Malting barley
exports would be 1.1 million tons, the normal volume with exports primarily going to South American
countries and some to India. Exports to Mexico are a possibility as this market opened in mid-2023 and
local traders are interested in exploring this market. In addition, Argentina would export roughly 2.3
million tons of feed barley, with a substantial drop in exports of FAQ (fair average quality) barley due to
a significant drop in Chinese demand which is again buying primarily from Australia.

Based on data reported by Trade Data Monitor, Argentine barley exports in January-November 2024
totaled 3.02 million tons for a value of $725 million. Of the volume, 664,000 tons were grouped and
listed under “Confidential” without specifying destination or volume. Based on data reported by Nabsa
shipping agent, barley exports in Calendar Year 2024 totaled 3.32 million tons, distributed as follows:
 Chart #3

Argentine Barley Exports

Calendar Year 2024
UAE
1%
India
2%
Saudi
Ethiopia Arabia
1% 12% Brazil
Colombia 26%
8%

China
50%

Source: Post with Nabsa data

Domestic consumption for MY 2024/25 is forecast at 1.65 million tons, the same as USDA official.
There is practically no expansion in local malting capacity, and plants are operating at nearly full
capacity. In some cases, malting companies are increasing stocks of malt. There are some rumors of a
possible new investment in the future of a local cooperative to process 150,000 tons of barley to export
malt. The plant would be located in the country’s main barley area in southeast Buenos Aires province,.

Corn

Corn production for MY 2024/25 is expected at 49 million tons, 2 million tons lower than USDA official
estimate on an area of 6.3 million hectares, 100,000 hectares lower than USDA offical. Most in the
market estimate production between 47-49 million tons on a planted area of 6.2-6.6 million hectares. By
mid-January 2025 the planting is expected to be completed, with the last fields up in the country’s
northern provinces. Spring 2024 was unexpectedly rainy, as most weather forecasts had earlier predicted
a dry environment due to La Niña. Farmers planted a larger area of very early corn (roughly 15-20
percent of the total) which is expected to yield high, although the weight of kernels remains a concern
because the dry and hot weather in early mid-January 2025 could have a negative impact. Though spotty
rains arrived January 17 to 19 but not across the entire growing area and more is needed to recover from
the dry spell. Another 20 percent of early corn was planted thereafter and before mid-November. This
corn is expected to yield lower as it is flowering in the middle of January with harsh dry conditions. This
is especially true for corn in northeast and west of Buenos Aires province and a small area south of
Santa Fe province (see below map). A few farmers are reporting some losses of planted corn.
 Map #1

Source: Crop Explorer, FAS/USDA

The planting of late corn began in mid-November, and it is calculated to account for 60 percent of the
total corn area, a percentage lower than previous years. The unusual severe corn stunt attack in
MY2023/24 has impacted negatively in the corn planted area in MY 2024/25. A very cold winter 2024
and the control and elimination of unproductive corn plants after harvest have so far reduced drastically
the possibility of suffering a similar event. A vast network of traps was distributed among different
production areas around the country and has shown a low presence of leafhoppers, insects which infect
Spiroplasma disease to corn plants. Late planted corn is located primarily from the central to the
northern parts of the country. Almost 1 million hectares will be planted in the northwest and northeast
provinces, planting which normally begins in late December. Late corn is transiting the current dry and
hot conditions in a vegetative stage and should have little negative impact if rains in late January and
February arrive.

The below photo to the left is early corn in milk stage, planted on November 10, 2024. The one to the
right is late corn, planted on December 10.
 Photo #3

Source: Ing. Fernando Bazan, Hernando, Cordoba

Corn production in MY 2023/24 is estimated at 50.5 million tons, on a harvested area of 7.4 million
hectares, an addition of 400,000 hectares from the previous update. Contacts indicate that a larger area
than earlier expected was found in La Pampa province. Also, many fields which yielded low because of
corn stunt were finally harvested, adding to the total area.

Farmers choice of seeds this crop season has been erratic. On one hand, those who plant corn normally
use the inputs needed to achieve good yields. However, this year economic returns for the different crops
are very slim, if any, on rented land, which represents 60-70 percent of the country’s total. This is due to
the combination of lower world prices together with higher production costs in dollar terms in
Argentina. This situation is making some farmers be slightly more conservative and use fewer inputs
than when returns are better. Currently, returns on corn production seem to be the best of all crops, as
world corn prices have not dropped as much as soybeans. The local farm sector is putting pressure on
the government to begin reducing export taxes on crops due to the need to improve profitability. In the
case of corn, wheat, and barley they are taxed 12 percent while soybean exports are taxed at 33 percent.
The government has indicated that while it does not agree with export taxes it will start to eliminate
them once the macroeconomic situation of the country permits.

Corn exports in MY2024/25 are forecast at 34 million tons, lower than USDA official 36 million tons,
primarily as Post estimates a smaller corn crop. Farmer selling for the marketing year has practically not
begun, with exporters only purchasing 1.4 million tons with forward price. By late December 2024, just
400,000 tons of export certificates of corn were requested for shipments in March and April 2025.
Analysts believe that once the harvest begins, farmers will most likely sell corn and fewer soybeans.
Current corn prices allow profitability, and farmers will prefer to stock and sell the least possible their
soybeans which they know the local crush industry will need later in the year and will most likely pay
premiums for them. Argentina’s main corn export window normally runs from March through June, a
period where it is practically the only player with a new harvest. From July onwards Argentine corn
competes with Brazil’s safrinha crop.

Corn exports in MY 2023/24 are estimated at 34 million tons, the same as USDA official. Argentine
corn exports during October-December 2024, a timing where Brazil is very competitive, were incredibly
high. Analysts indicate that Brazil’s corn domestic demand was strong during this period. The world
market was very active for Argentine corn which is well valued by many clients around the world. In
addition, local exporters needed to move merchandise out of the ports to prepare for the harvest of the
winter crops and immediately after preparing the logistics for the new summer crop harvest which will
begin in March 2025.

Based on data reported by Trade Data Monitor, Argentine corn exports in January-November 2024
totaled 32.5 million tons for a value of $6.67 billion. Of the volume, 2.74 tons were grouped and listed
under “Confidential” without specifying destination or volume. Based on data reported by Nabsa
shipping agent, corn exports in Calendar Year 2024 totaled 34.3 million tons, shipped to 53 different
markets. Following were the main 10 destinations which accounted for 80 percent of the total (in million
tons):

Chart #4
1) Vietnam 7.0 6) Chile 2.3
2) Peru 4.2 7) S. Arabia 2.3
3) Malaysia 3.1 8) Indonesia 1.0
4) S. Korea 3.1 9) Morocco 0.9
5) Algeria 2.9 10) Egypt 0.8
Source: Post with Nabsa Shipping Agent data

The carry in corn stock for MY 2024/25 is estimated at practically 4 million tons in early March 2025.
Most market operators coincide that stock will be close to this volume. Practically two thirds would be
in the hands of town elevators and cooperatives and a third in silo bags on farm. Carry out stocks for
MY 2024/25 are forecast at 4.2 million tons, 1.5 million tons higher than what USDA official reflects,
primarily due to Post estimating a lower domestic use.

Domestic consumption of corn in MY 2024/25 is estimated at 14.8 million tons, the same as in MY
2023/24, but 1.5 million tons smaller than USDA official. After serious and successful adjustments in
the local macro economy in 2024, most analysts believe the domestic economy will grow 4-5 percent in
2025. Most livestock sectors are expected to accompany such growth along the same lines. However,
corn consumption would remain flat, as an increase in feed demand would be supplied by a significantly
larger sorghum crop, which has expanded in area due to last year’s corn stunt. Sorghum exports are
expected to remain relatively flat and therefore, whatever is left will most likely be consumed
domestically. The bioethanol industry (supplied from corn and sugarcane) is expected to consume more
corn as gasoline sales are also expected to rebound in 2025.

Sorghum

Argentine sorghum production for MY 2024/25 is expected at 3.8 million tons, 200,000 tons higher than
USDA, as Post estimates a somewhat larger harvested area. In general, practically all official and private
contacts, including seed companies, estimate a planted area of 1.1-1.2 million hectares, roughly 300,000
hectares larger than the previous marketing year. Not all planted sorghum fields will be harvested for
commercial grain as many farmers utilize sorghum to produce silage or high moisture grain bags. By
mid-January 2025 the planting was complete.
Contacts’ production estimate ranges between 3.3-4.2 million tons. This increased area is the result of
last year’s severe attack of corn stunt which affected corn fields in central/northern Argentina. Many
producers in these regions switched to sorghum as an alternative (see below photo 4):

Photo #4

Source: Ing. Martin Canteros, Banaderos, Formosa

Planted on December 21, 2024

The planted area with sorghum could have been even larger, but there was limited seed availability
during the planting window. In addition, a few farmers who were going to plant sorghum changed at the
last minute and planted more corn based on the good results of the network of traps which indicated a
low presence of leaf hoppers carrying the corn stunt.

Post continues to estimate sorghum exports in MY 2024/25 at 1.5 million tons, 200,000 tons lower than
USDA official. The final volume will depend on how active China’s demand is. Exporters indicate that
so far, the market is quiet, but it could activate rapidly. China normally imports sorghum from Argentina
in the second half of the year. To date, exporters purchased only 56,000 tons of the MY 2024/25 crop
with price set, but no export certificates were requested yet. Exports to China remain uncertain as some
contacts indicate that they will depend in large part on future U.S. government commercial sanctions or
import tariffs on Chinese products. China could eventually demand more sorghum from alternative
suppliers such as Argentina if it chooses to buy less U.S. sorghum.

The domestic consumption of sorghum in MY 2024/25 is expected at 2.1 million tons, 400,000 tons
larger than USDA official which estimates a somewhat smaller crop and larger exports. Nonetheless,
domestic use would be the highest of the past several years because of a larger output and relatively
unchanged exports. Although most livestock producers prefer to use corn, if sorghum prices are
competitive, they will substitute it for corn. Cattlemen in central and northern Argentina are most likely
the ones to consume most of it as they are close the sorghum production areas.
Rice

Argentine rice production in MY 2024/25 is expected at 1.5 million tons rough base and 980,000 tons
milled base. This is an increase of 3 percent compared to our earlier projection and USDA official
number. The area is increased by 5,000 hectares, for a total of 220,000 hectares. Remarkably, there is no
area loss estimated for this marketing year as weather and production conditions for rice throughout
most of the cycle were close to ideal. There was good sunshine, little rain, water reservoirs practically
full, and rivers with good water flows. The Parana River and the Paraguay River had good levels of
water and farmers were able to irrigate efficiently while not suffering floods which they normally do.
Average yields are expected at 6.85 tons per hectare, rough basis, the highest of the past several seasons.
The following chart shows the percentage of area planted by province in MY 2024/25:

Chart #5
Rice Planted Area - MY 2024/25

Chaco
Formosa6%
3%
Santa Fe
13%
Corrientes
47%

Entre Rios
31%

Corrientes Entre Rios Santa Fe Formosa Chaco

Source: Post with Private Sector data

The average yield in MY 2024/25 is expected at 6.8 tons per hectare, rough base, which is on the high
level. November was rainy and December quite cold, producing some problems for producers to control
weeds and apply fertilizers. From mid-December onwards, the weather was dry and with very good
sunlight, with a strong recovery in yield potential. The harvest has timidly started in northern Corrientes,
but it will be at full swing in February.

In November-December 2024, local rice farmgate prices dropped 25-30 percent as a reflection of a
world rice market with higher availability. At the current price of rice of approximately $265 per ton,
rough base, most farmers come out breakeven. Production costs are around $2000 per hectare on rented
land, higher than previous years. The macroeconomic changes the country has gone through in 2024
have been an improvement, but costs paid in pesos (freight, taxes, hand labor, fuel and energy) have
increased significantly in dollar terms.
Argentine rice exports in MY 2024/25 are expected at 500,000 tons milled base, 60,000 tons higher than
USDA officials. To date, local brokers indicate that roughly 50,000 tons have been negotiated. Chile is
expected to be the number one market, followed by Spain, the Netherlands and Central American
countries (Costa Rica, Honduras, Panama). Other important markets with smaller volumes are expected
to be Mexico, Turkey, and the United States (organic rice and in some cases, rice packaged directly for
retail). Brokers also hope to be able to close sales with Iraq for approximately 60,000 tons. Exports to
Brazil will be very small because of the recently strong devaluation suffered by the Real.

Rice domestic consumption for MY 2024/25 is expected at 475,000 tons, back to normal levels as the
Argentine economy is expected to grow in 2025 and local rice prices to remain accessible after a
significant price hike during July-September 2024 which made consumption drop during several
months. During these months, rice mills were exporting at high prices and passed on part of the increase
to domestic prices, negatively affecting sales in the domestic market by 20-30 percent. Domestic prices
then started to drop, and consumption returned to normal levels. The current retail price of a kilo of rice
is Pesos 1,700, the equivalent to $1.6, including value added tax.

Ending stocks for MY 2024/25 are forecast to grow somewhat as not all exportable supplies are
expected to be shipped as the world rice market will be more competitive. Based on what local brokers
indicate, carry out stocks in MY 2023/24 will be very small and most of them in the hands of mills.

Statistical Tables

Wheat 2022/2023 2023/2024 2024/2025

Market Year Begins Dec 2022 Dec 2023 Dec 2024
Argentina USDA Official New Post USDA Official New Post USDA Official New Post
Area Harvested (1000 HA) 5500 5500 5575 5575 6000 6200
Beginning Stocks (1000 MT) 1926 1926 3967 3967 4537 4537
Production (1000 MT) 12550 12550 15850 15850 17500 18100
MY Imports (1000 MT) 3 3 4 4 10 6
TY Imports (1000 MT) 3 3 4 4 10 6
TY Imp. from U.S. (1000 MT) 0 0 0 0 0 0
Total Supply (1000 MT) 14479 14479 19821 19821 22047 22643
MY Exports (1000 MT) 3662 3662 8234 8234 11500 11500
TY Exports (1000 MT) 4681 4681 7282 7282 11500 11500
Feed and Residual (1000 MT) 250 250 250 250 250 250
FSI Consumption (1000 MT) 6600 6600 6800 6800 6800 6800
Total Consumption (1000 MT) 6850 6850 7050 7050 7050 7050
Ending Stocks (1000 MT) 3967 3967 4537 4537 3497 4093
Total Distribution (1000 MT) 14479 14479 19821 19821 22047 22643
Yield (MT/HA) 2.2818 2.2818 2.843 2.843 2.9167 2.9194

(1000 HA) ,(1000 MT) ,(MT/HA)

MY = Marketing Year, begins with the month listed at the top of each column
TY = Trade Year, which for Wheat begins in July for all countries. TY 2024/2025 = July 2024 - June 2025

2022/2023 2023/2024 2024/2025

Barley
Market Year Begins Dec 2022 Dec 2023 Dec 2024
Argentina USDA Official New Post USDA Official New Post USDA Official New Post
Area Harvested (1000 HA) 1590 1500 1300 1300 1250 1300
Beginning Stocks (1000 MT) 538 538 626 481 855 710
Production (1000 MT) 4695 4600 5100 5100 4900 5000
MY Imports (1000 MT) 0 0 0 0 0 0
TY Imports (1000 MT) 0 0 0 0 0 0
TY Imp. from U.S. (1000 MT) 0 0 0 0 0 0
Total Supply (1000 MT) 5233 5138 5726 5581 5755 5710
MY Exports (1000 MT) 2857 2857 3021 3021 3500 3400
TY Exports (1000 MT) 2908 2908 2843 2843 3400 3300
Feed and Residual (1000 MT) 350 350 400 400 200 200
FSI Consumption (1000 MT) 1400 1450 1450 1450 1450 1450
Total Consumption (1000 MT) 1750 1800 1850 1850 1650 1650
Ending Stocks (1000 MT) 626 481 855 710 605 660
Total Distribution (1000 MT) 5233 5138 5726 5581 5755 5710
Yield (MT/HA) 2.9528 3.0667 3.9231 3.9231 3.92 3.8462

(1000 HA) ,(1000 MT) ,(MT/HA)

MY = Marketing Year, begins with the month listed at the top of each column
TY = Trade Year, which for Barley begins in October for all countries. TY 2024/2025 = October 2024 - September 2025

OFFICIAL DATA CAN BE ACCESSED AT: PSD Online Advanced Query

Corn 2022/2023 2023/2024 2024/2025

Market Year Begins Mar 2023 Mar 2024 Mar 2025
Argentina USDA Official New Post USDA Official New Post USDA Official New Post
Area Harvested (1000 HA) 7200 7200 7000 7400 6400 6300
Beginning Stocks (1000 MT) 4748 4748 2324 2324 4089 4040
Production (1000 MT) 37000 37000 50000 50500 51000 49000
MY Imports (1000 MT) 16 16 15 16 5 5
TY Imports (1000 MT) 10 10 19 19 5 5
TY Imp. from U.S. (1000 MT) 8 8 12 13 0 0
Total Supply (1000 MT) 41764 41764 52339 52840 55094 53045
MY Exports (1000 MT) 25240 25240 34000 34000 36000 34000
TY Exports (1000 MT) 25740 25740 31213 31213 38000 36000
Feed and Residual (1000 MT) 10000 10000 10000 10400 12000 10500
FSI Consumption (1000 MT) 4200 4200 4250 4400 4300 4300
Total Consumption (1000 MT) 14200 14200 14250 14800 16300 14800
Ending Stocks (1000 MT) 2324 2324 4089 4040 2794 4245
Total Distribution (1000 MT) 41764 41764 52339 52840 55094 53045
Yield (MT/HA) 5.1389 5.1389 7.1429 6.8243 7.9688 7.7778

(1000 HA) ,(1000 MT) ,(MT/HA)

MY = Marketing Year, begins with the month listed at the top of each column
TY = Trade Year, which for Corn begins in October for all countries. TY 2024/2025 = October 2024 - September 2025

OFFICIAL DATA CAN BE ACCESSED AT: PSD Online Advanced Query

2022/2023 2023/2024 2024/2025

Sorghum
Market Year Begins Mar 2023 Mar 2024 Mar 2025
Argentina USDA Official New Post USDA Official New Post USDA Official New Post
Area Harvested (1000 HA) 500 500 623 600 850 900
Beginning Stocks (1000 MT) 221 221 181 200 219 201
Production (1000 MT) 1610 1610 2487 2500 3600 3800
MY Imports (1000 MT) 0 1 1 1 0 0
TY Imports (1000 MT) 0 1 1 1 0 0
TY Imp. from U.S. (1000 MT) 1 1 0 0 0 0
Total Supply (1000 MT) 1831 1832 2669 2701 3819 4001
MY Exports (1000 MT) 650 532 1300 1300 1700 1500
TY Exports (1000 MT) 800 600 1100 1100 1700 1500
Feed and Residual (1000 MT) 800 900 900 900 1400 1800
FSI Consumption (1000 MT) 200 200 250 300 300 300
Total Consumption (1000 MT) 1000 1100 1150 1200 1700 2100
Ending Stocks (1000 MT) 181 200 219 201 419 401
Total Distribution (1000 MT) 1831 1832 2669 2701 3819 4001
Yield (MT/HA) 3.22 3.22 3.992 4.1667 4.2353 4.2222

(1000 HA) ,(1000 MT) ,(MT/HA)

MY = Marketing Year, begins with the month listed at the top of each column
TY = Trade Year, which for Sorghum begins in October for all countries. TY 2024/2025 = October 2024 - September 2025

OFFICIAL DATA CAN BE ACCESSED AT: PSD Online Advanced Query

Rice, Milled 2022/2023 2023/2024 2024/2025

Market Year Begins Apr 2023 Apr 2024 Apr 2025
Argentina USDA Official New Post USDA Official New Post USDA Official New Post
Area Harvested (1000 HA) 173 165 191 180 215 220
Beginning Stocks (1000 MT) 163 163 192 118 159 73
Milled Production (1000 MT) 756 682 822 708 950 980
Rough Production (1000 MT) 1163 1049 1265 1089 1462 1508
Milling Rate (.9999) (1000 MT) 6500 6500 6500 6500 6500 6500
MY Imports (1000 MT) 2 2 5 7 5 4
TY Imports (1000 MT) 5 2 5 7 5 4
TY Imp. from U.S. (1000 MT) 0 0 0 0 0 0
Total Supply (1000 MT) 921 847 1019 833 1114 1057
MY Exports (1000 MT) 254 254 360 320 440 500
TY Exports (1000 MT) 293 293 285 260 465 465
Consumption and Residual (1000 475 475 500 440 510 475
MT)
Ending Stocks (1000 MT) 192 118 159 73 164 82
Total Distribution (1000 MT) 921 847 1019 833 1114 1057
Yield (Rough) (MT/HA) 6.7225 6.3576 6.623 6.05 6.8 6.8545

(1000 HA) ,(1000 MT) ,(MT/HA)

MY = Marketing Year, begins with the month listed at the top of each column
TY = Trade Year, which for Rice, Milled begins in January for all countries. TY 2024/2025 = January 2025 - December 2025

OFFICIAL DATA CAN BE ACCESSED AT: PSD Online Advanced Query

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