November 27th 2023
Harvesting and sowing on the Pampas
National Holidays: Friday, December 08th
Grains and Markets:
The Iran (SLAL) tender for 120,000 tons of maize January-February-March dates was fixed. Sourcing (disappointingly for us here on ECSA) is from Black Sea (Russia and Ukraine).
Iran (SLAL) remain still open for 120,000tons of soya bean meal on January-February dates.
South Korea’s Agro-Fisheries are still looking for 50,000 tons of soya beans (Non-GMO) for January-February.
Egypt is asking for a Panamax of maize during February.
Harvesting and sowing on the Pampas:
The harvesting of the wheat is now about 25 per cent completed according to a report issued by the Buenos Aires Grain Exchange. Yields are higher than expected. The overall total forecast is maintained at 14,700,000 tons. This will mean a return of Argentina to the markets after the dismal 2022-2023 harvest which, because of the drought hardly produced any exports. The estimated exports of wheat are now back at 7,000,000 tons.
Sowing of soya beans and maize is well underway, with 34.8 per cent of the estimated surface sown.
26.2 per cent of the maize surface has been sown.
Weather (rain) is appearing, although some western areas could still get some more.
Argentina’s politics:
The elected Government is getting organized for when they take over on Sunday, December 10th. This a new type of people taking over, not many of those working with Milei have worked together before and the “old type” politicians are desperate to get a share, unemployment is a new panorama for them. The media (press?) are having a hard time coming to terms with the idea that their old cronies cannot source them with inside stories.
Bottom line, there is not much information as to who will go where and do what.
Very strict austerity is to be expected and the coming year will be tough for many.
Social protests and strikes are to be expected. The unions have already warned they will fight policies which are a consequence of the policies implemented by the leaving Government which they supported.
STS BUNKER AT ZONA COMUN FOR NEXT DAYS:
Will keep you posted.
Best regards,
Antares Servicios Maritimos S.A.
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