Argentina: Grain and Feed Annual

Corn leads the charge with exports forecast at 37 million tons, the third highest in history as farmers return in force following the MY2023/24 corn stunt or chicharrita setback. Wheat exports are projected to hold steady at 13 million tons (including flour in wheat equivalent), supported by an 11 percent expansion in planted area. Barley sees a slight pullback in acreage and exports as growers pivot to wheat on higher returns. Sorghum exports remain flat at 1.5 million tons, which will depend almost entirely on Chinese demand, while domestic production declines as corn reclaims ground. Rice exports are set to fall 10 percent to 420,000 tons (milled basis), with growers wary of weak global prices and tight profit margins.