Argentina's corn overtakes soy as top export grain amid delayed soybean sales

In the first half of 2026, Argentina’s corn shipments reached 23 million tonnes, representing 44 % of the declared export volume and surpassing soybeans, which fell to 13.7 million tonnes – a 56 % decline year‑on‑year. The shift marks the first time since 2021 that corn has led the country’s agro‑export portfolio.

Soybean sales have slowed dramatically, with only about 40 % of the 2025/26 crop sold by the end of June, the lowest pace in a decade. Farmers are holding back soy to await a more favorable exchange rate, lower export taxes or higher prices, limiting foreign‑currency inflows that are crucial for rebuilding the central bank’s reserves.

The wheat market remains cautious; roughly 65 % of the wheat harvest has been marketed and farmers are postponing sales while focusing on corn and soy. About 20 million tonnes of wheat have been harvested, with sowing for the new crop over 80 % complete.

Overall harvest figures show soy production at 50.1 million tonnes, just 0.4 % below the previous cycle but 19 % above the five‑year average. Wheat planting is on schedule, while corn yields have faced localized damage from the “chicharrita” pest in the north.