(Image: a chart from RIA Consultores showing the increase in the soybean crushing during April)
Buenos Aires, May 3rd. Today we resume five facts about Argentine soybean complex, extracted from the RIA Consultores weekly report.
1.- Argentine soybean harvest 2018/19 is estimated around 57 MMT, recovering from 35 MMT in 2017/18, hardly affected by drought.
2.- As the new harvest started to enter the commercial channel, soybean crushing recovered during April to 3.82 MMT, 31% above March and 15% above April 2018. Accumulated crushing in the first four months reaches 11.58 MMT, versus 11.47 MMT in 2018.
3.- Soybean imports declined to 553K tons versus 708K tons in March and 556K tons in April 2018. Accumulated imports in the first third of the year reach 2.66 MMT versus 1.85 in 2018.
4.- Exporters registered 5.58 MMT of soybean meal exports during May, 1.62 MMT of soybean and 533K tons of soybean oil. Accumulated soybean exports registered from the 2018/19 campaign reach 4.27 MMT; soybean meal to 11.75 MMT and soybean oil to 2.01 MMT.
5.- Soybean meal exports during April surpassed the 2018 ones by 21%, reaching 2.38 MMT. In the first two months of the year, soymeal exports were lower than the 2018 ones, a trend that reverter during March, when 2019 exports increase 8% to 2.15 MMT.