(Photo: ADM led grains exports from Argentina in 2018)

Buenos Aires, February 26th. According to the official statistics from the Ag-Industry secretariat, during 2018 40MMT of grains were shipped from Argentine ports, versus 47.9 MMT in 2017.

Soybean exports marked a dramatical drop from 7.3 in 2017 to 3.4 in the past year. But wheat and corn also diminished its shipments from 12.4 to 11.2 MMT in the first case and 23.0 to 21.3 in the second case. (Note from the Editor, Ag-Industry statistics refer to the ports embarks; because of this, not match with INDEC data).

But, what happened about the trading firms ranking? In 2017, after acquiring Nidera and Noble, Chinese trading company COFCO had made the great jump ahead shipped 8.2 MMT of grains and surpassing the US traditional companies like Cargill and Archer Daniels Midland.

Around 49% of the COFCO’s exports from the country were corn, 33% wheat, and 14% soybean.
This year, COFCO’s exports plunged to 5.2MMT, where corn represented 47%, wheat 44% but the soybean just 7%.

Evidently, the drought that cut the Argentine soybean harvest in the 2017/18 campaign affected the Chinese grain flagship company.

In these circumstances, US grain trading firms took advantage and increased its participation in the local exports. The top of the ranking was occupied by Archer Daniels Midland, which shipped 7.4 MMT of grains or 18% of the national exports. Corn represented 77% of the ADM Argentina business.

Cargill jumped to second place with 6.0 MMT, 60% of which were corn, too. COFCO descended to third place (5.2MMT), ahead Bunge (4.3 MMT) and LDC (3.7 MMT). In both cases, the corn was the largest grain commercialized, representing 55% in the case of Bunge and 47% in the case of LDC.

Grain by grain, ADM headed the soybean, sorghum, and corn shipments. COFCO led wheat exports and Oleaginosas Moreno (Glencore) led barley exports.

The following chart summarizes exports by firm in 2017 and 2018.