The Argentine Ministry of Agriculture reported that as of May 3, farmers had pre-sale 249000 tons of 2023/24 wheat, an increase of 14000 tons from a week ago and a decrease from 3.229 million tons in the same period last year. Last week, sales were 47000 tons.

Argentine farmers also sold 8.66 million tons of wheat for 2022/23, an increase of 111000 tons from a week ago, down from 193500 tons in the same period last year. The previous week sold 164000 tons.

BAGE expects Argentina's wheat production to be 12.4 million tons in 2022/23, lower than the 22.4 million tons in 2021/22. The estimated wheat planting area is 6.1 million hectares, a decrease of 9.0% from 6.7 million hectares last year, due to drought and increased production costs such as fertilizers.

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