In Argentina, Bichos de Campo reported that the United States Department of Agriculture (USDA) drastically raised Argentina’s soybean export estimate for the 2024/25 season to 13.3 million tons, a figure even higher than that forecast by Argentina’s own Secretariat of Agriculture, which projects a figure of 12.2 million.
“This increase is due to the aggressive surge in purchases by China during the three days that Argentina temporarily suspended agricultural export duties, triggering unprecedented sales. While exporters are not required to declare destinations, traders report that more than 95% of these shipments were purchased by China,” the USDA report states.
The document indicates that behind Chinese purchases of Argentine soybeans there are “political and strategic motivations at play, as China prioritizes Argentina as a supplier to avoid buying from the US” within the framework of the trade negotiations undertaken by both powers.
Regarding the new 2025/26 season, USDA technicians present in Argentina raised their forecast for soybean exports by one million tons to 6.5 million, implying that they expect Chinese demand for Argentine beans to remain strong.
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Category: Food & Agriculture
