Argentina ships record 5.14 million tonnes of corn in July
Argentina exported a record 5.14 million tonnes of corn in July, surpassing the previous monthly high set in April. Rain-related harvest delays and weaker port deliveries could slow shipments as competition from the Northern Hemisphere approaches.
July shipments set a historic high
Argentina shipped 5.14 million tonnes of corn in July, the largest monthly export volume in the country’s history, TN reported, citing a Rosario Board of Trade report and NABSA data. It was only the second month in which exports exceeded 5 million tonnes: April had established the previous benchmark at 5.08 million tonnes.
Shipments from March through July reached 22.21 million tonnes. That represents 51% of the export program, a pace broadly aligned with the average of the previous five marketing seasons when the drought-affected 2022/23 cycle is excluded. The figures reinforce Argentina’s position as a major supplier during the seasonal window before Northern Hemisphere crops enter the market.
Larger crop supports export availability
GEA-BCR raised its estimate for Argentina’s 2025/26 corn harvest by 2.5 million tonnes to 70.5 million tonnes. Total supply for the cycle is now projected at 77 million tonnes, while ending stocks are forecast at 12.3 million tonnes. In July, sales of 2025/26 corn reached 4.36 million tonnes, almost four times the June volume.
Total committed sales rose to 35.62 million tonnes, equivalent to 51% of estimated production. During the latest reported week, industry and exporters bought 1.22 million tonnes across the current and new crops. The average Rosario reference price was 277,300 pesos per tonne, down 3,000 pesos from the previous week, while local transactions later fell to 263,000 pesos per tonne, the lowest level since late June.
Rain slows harvest and port arrivals
Recurring rainfall has delayed grain drying and harvesting, weakening the near-term flow to export terminals. Truck deliveries of corn to ports fell to 865,567 tonnes, 20.6% below the average of 1.08 million tonnes over the preceding four weeks. The vessel line-up was also 12.5% below the five-year average for the corresponding week.
The national harvest was 89% complete, eight percentage points behind the five-year average, with 11.58 million hectares still to be harvested. These delays could narrow Argentina’s seasonal advantage as the Northern Hemisphere harvest approaches, despite the country remaining the world’s most competitive origin, according to the Rosario Board of Trade report.
Global market turns firmer
The USDA’s latest supply-and-demand report cut projected US corn ending stocks for 2026/27 by more than traders had expected, pointing to a tighter balance. Funds bought a net 57,500 corn contracts on August 12, their largest buying position in weeks. The most-active contract initially gained $2 per tonne to $186.6 and closed at $189.36 per tonne, up 4.5% and at a two-week high.
For Argentine exporters, firmer international prices offer support, but execution will depend on harvest progress and port logistics. July demonstrated the system’s ability to handle more than 5 million tonnes in a month. Maintaining that pace will require faster fieldwork and stronger deliveries before competing supplies become available.
