August 30th – Soya Argentina

August 30th 2022

Soya Argentina

National Holidays:Friday, Friday, October 07th and Monday October 10th

River Parana Draft Forecast:

Grains and Markets:

Qatar is in the market for 100 thousand tons of barley, December dates. Egypt is looking for wheat, one Panamax November or December dates, and Algeria is issuing a tender for 50 thousand tons of wheat.
The 2022 maize harvest is now concluded, and the Buenos Aires Grain Exchange puts the final figure at 52 million tons.

More Vaca Muerta:

Petronas and YPF have announced an association to produce LNG from the Vaca Muerta shale oil and gas basin in Northern Patagonia.
The association aims to produce LNG principally for export. These agreements are part of the Government’s project to increase energy industry production during this period of increased demand for energy.
Dates and firm plans are yet to be disclosed.

Soya Argentina:

There remains a considerable volume of soya to be exported and processed either as beans or meal and oil.
Farmers are holding much of this volume on the farms in “silo bags” and the exact amount is difficult to determine.
A preliminary estimation by market researchers shows that 50 per cent of the volume harvested remains unsold.
Crushing industry is working at reduced capacity, partly due to this withholding of the local stocks and due to the scarce input from Paraguay and Bolivia caused by drought.
The Government is trying to encourage farmers to sell by offering elaborate mechanisms to improve farmer’s income by slightly closing the gap between international market prices and what they receive after exchange rate deviation, export taxes and such. The attempts have not been successful.

Proof of this is the lack of congestion at the berths Upriver.

Weather the rest of the week. Bunker deliveries at Zona Comun:

Strong wind gusts over short periods at Zona Comun tonight and Friday.
As always, the STS operation is up to the discretion of the Master’s of the vessels involved.

Will keep you posted.
Best regards,
Antares Servicios Maritimos S.A.

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