Argentina grain markets rally as USDA report lifts corn and wheat outlook

Physical markets in Argentina showed little change for soy and wheat, while corn gained momentum after the latest USDA quarterly report. Chicago futures rose, with corn up about 2.3% and wheat advancing 1.9%, driven by lower U.S. planted wheat area—the smallest in 149 years—and reduced Chinese soy demand linked to a pork crisis. Analysts advised Argentine producers to anticipate pricing and plan soy sales, noting that an abundant late‑harvest corn crop and strong sales of other grains such as sunflower and wheat provided liquidity without relying on soy exports. The report also highlighted a decline in Argentina’s soy‑meal shipments to the European Union, raising concerns about market share.

The market response reflects both domestic logistics constraints and broader international demand shifts stemming from U.S. agricultural data.