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Argentina wheat harvest enters final stretch

  • : Agriculture
  • 25/01/03

Argentina farmers have entered the final phase of the wheat harvest, following recent rainfall that slowed some progress, according to the Buenos Aires Grain Exchange (Bage).

Wheat harvesting was 94.7pc complete in the week ended 2 January. The harvest advanced by just 6.2 percentage points on account of rainfall that limited progress in southeast Buenos Aires.

The national wheat yield was 3.03 t/ha, up from 2.99 t/ha in the week prior. Bage maintained its forecast for wheat production at 18.6mn t for the 2024-25 crop, despite the national yield increasing steadily each week.

Soybeans

Soybean planting also entered the final stages, advancing by 8 percentage points during the week to 92.7pc completed. Bage maintained its projection of 18.4mn hectares to be planted.

Soybean ratings dropped for the week, with Bage rating the crop as 53pc excellent, 43pc normal and 4pc poor. In the prior week, soybeans were rated as 58pc excellent, 38pc normal and 4pc poor.

Moisture conditions for soybeans were reported as 81pc optimal and 19pc normal, drier than the past week at 88pc optimal and 12pc normal. Most of the soybean growing areas did not receive the rainfall that wheat areas did.

Corn

Corn planting progressed by 6.5 percentage points during the week, reaching 87.4pc completion. Bage maintained its projection of 6.6mn hectares to be planted.

Rainfall in the south of Buenos Aires and in Cordoba improved the conditions for late-planted corn, but moisture conditions for corn declined nationally as much of the crop didn't receive rain amid high temperatures. Corn in south-central Argentina is starting to show signs of water stress, with some yellowing leaves and possible yield loss.

Bage reported corn moisture conditions as 81.5pc optimal and 18.5pc normal, compared to the previous week at 88pc optimal and 12pc normal.

Sunflower

Sunflower harvesting began in Argentina, with the first results having an average yield of 1.88 t/ha. Bage expects the remaining crop to have higher yields.

The sunflower crop was rated as 85pc excellent and 15pc normal for the week, little changed from the week prior. Ratings were significantly higher than this time last year, when the crop was rated as 44pc excellent, 45pc normal and 11pc poor.

The sunflower crop also didn't receive much rainfall for the week, with Bage reporting moisture as 62pc optimal and 38pc normal, down from 65pc optimal and 35pc normal in the prior week.

Bage said 32.4pc of the 2mn hectares of sunflower are in the reproductive stage, and that producers are beginning to worry about the lack of forecast rain.


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25/04/09

Mexico inflation quickens in March

Mexico inflation quickens in March

Houston, 9 April (Argus) — Mexico's consumer price index (CPI) quickened to an annual 3.8pc in March, with price spikes in beef, housing and tourism offsetting easing in energy and produce prices. The index increased for a second consecutive month after accelerating from 3.77pc in February off a four-year low of 3.59pc in January. It nevertheless held for a seventh consecutive month within the central bank's long-term target range of 2pc to 4pc. The result, reported by statistics agency Inegi Wednesday, was in line with the median estimate of analysts polled in Citi Research's 7 April survey. Core inflation, which excludes volatile energy and food, slowed to an annual 3.64pc in March from 3.65pc the prior month. Non-core inflation accelerated to 4.16pc from 4.08pc, driven by a 4.9pc gain in agricultural. Annual inflation for the meat, egg and fish component of CPI slowed to 9pc in March from 10.53pc in February, as egg prices began to recover from bird flu contamination. Energy inflation eased to an annual 2.72pc in March from 3.74pc in February and 6.34pc in January following an agreement between President Claudia Sheinbaum and gasoline dealers to cap low-grade fuel at Ps24 per liter ($4.49/gallon). For the month, headline CPI ticked up by 0.31pc in March after a 0.28pc gain the prior month. Core prices were up by 0.43pc for the month, and non-core prices fell by 0.08pc from the prior month. Beef was a big driver for the monthly uptick in inflation, with prices up by 3.26pc in March from the prior month. Despite the higher headline rate, Mexican bank Banorte said the inflation trend remains mostly favorable with short-term climate conditions suggesting fruit and vegetable prices likely less volatile in coming months than the same time last year. Banorte also noted stability in Mexico's core inflation, and expects the central bank to issue its third half-point cut of 2025 to its target interest rate 15 May, lowering the rate to 8.5pc from 9pc. By James Young By James Young Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

Limited impact on US agriculture from China tariffs


25/04/09
25/04/09

Limited impact on US agriculture from China tariffs

London, 9 April (Argus) — China will add an additional 50pc tariff on US goods, raising the total to 84pc from 10 April, the country's finance ministry said today, but agricultural markets could be largely sheltered from the fallout, because China has already been showing limited demand for US grains and oilseeds since December . Tariffs will rise to 84pc for US goods arriving in China, matching US tariffs on imports from China. But purchases of US-origin agricultural products from private importers to China has already wound down since December, meaning that any rises in duties are unlikely to put any further pressure on China-bound shipments. Just 9,900t of US corn arrived in China between December 2024 and February 2025, the latest available customs data show, compared with 1.4mn t a year earlier. Soybean sales have been higher across the same period, with 13.4mn t arriving between December and February this year, compared with 8.8mn t a year ago. But most private buyers have refrained from making new US-origin purchases since December. By Megan Evans Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

South Korean beef imports to remain flat, demand falls


25/04/08
25/04/08

South Korean beef imports to remain flat, demand falls

Sydney, 8 April (Argus) — South Korea's beef imports are expected to remain flat in 2025, tempered by lower domestic consumption and a tighter US supply outlook, according to the US Department of Agriculture's (USDA) Foreign Agricultural Service (FAS). South Korea is forecast to import 574,000t carcass weight equivalent (cwe) of beef in 2025, down slightly from 577,000t in 2024, because of falling domestic consumption, higher prices of imports, and competitive pricing of local beef. The country's beef imports have been declining since 2023, curbed by a stronger US dollar and domestic supply. Domestic beef consumption is expected to decline by around 2pc on the year, as the South Korean economy slows and consumer demand for higher-priced domestic beef and imported premium muscle cuts dampens, according to FAS. South Korea imported 47pc of its beef from the US and 46pc from Australia in 2024, according to FAS. But the US cattle herd has declined to its lowest level since 1951 in 2025, which could shift market share in Australia's favour. South Korea's imports of Australian beef rose to 45,000t in January-March 2025, up by 10pc from the same period in 2024, Australia's Department of Agriculture, Fisheries and Forestry (DAFF) data show. Australia's share of imports could rise further if South Korea implements countermeasures after the US applied 25pc tariffs on the country's exports on 2 April. But South Korea will remove the 2.6pc tariff on US beef from January 2026 under an existing Free Trade Agreement, giving the US a significant competitive advantage over Australian products. Australia's ability to gain additional market share is also limited by the safeguard quota of 192,206t for 2025 under the Korea-Australia Free Trade Agreement (KAFTA). A tariff of 24pc is applied if volumes rise above this level. Australia exported 200,545t of beef to South Korea in 2024 — more than 8,000t above the 2024 safeguard quota. By Grace Dudley Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

Flooding on US rivers mires barge transit


25/04/07
25/04/07

Flooding on US rivers mires barge transit

Houston, 7 April (Argus) — Barge transit slowed across the Arkansas, Ohio and lower Mississippi rivers over the weekend because of flooding, which prompted the US Army Corps of Engineers (Corps) to close locks and issue transit restrictions along the waterways. The Corps advised all small craft to limit or halt transit on the McClellan-Kerr Arkansas River Navigation System (MCKARNS) in Arkansas because flows reached above 200,000 cubic feet per second (cfs), nearly three times the high-water flow. The heavy flow is expected to persist throughout the week, posing risks to those transiting the river system, said the Corps. Some barges have halted movement on the river, temporarily miring fertilizer resupply efforts in Arkansas and Oklahoma in the middle of the urea application season. The Corps forecasts high flows to continue into Friday, and the National Weather Service predicts several locations along the MCKARNS will maintain a moderate to minor flood stage into Friday as well. Both the Arthur V Ormond Lock and the Toad Suck Ferry Lock, upriver from Little Rock, Arkansas, shut on 6 April because of the high flows. Flows along the Little Rock Corps district reached 271,600cfs on 7 April. The Corps forecasts high flows to continue into Friday. Ohio and lower Mississippi rivers The Corps restricted barge transit between Cincinnati, Ohio, and Cairo, Illinois, on the Ohio River to mitigate barge transportation risks, with the Corps closing two locks on the Ohio River on 6 April and potentially four more in the coming days. Major barge carrier American Commercial Barge Line (ACBL) anticipates dock and fleeting operations will be suspended at certain locations along the Mississippi and Ohio rivers as a result of the flooding. NWS forecasters anticipate major flooding levels to persist through the following week. Barge carriers also expect a backlog of up to two weeks in the region. To alleviate flooding at Cairo, Illinois, where the Ohio and Mississippi Rivers meet, the Corps increased water releases at the Barkley Dam on the Cumberland River and the Kentucky Dam on the Tennessee River. The Markland Lock, downriver from Cincinnati, Ohio, and the Newburgh lock near Owensboro, Kentucky, closed on 6 April. The Corps expects the full closure to remain until each location reaches its crest of nearly 57ft, which could occur on 8 or 9 April, according to the National Weather Service (NWS). Around 50 vessels or more are waiting to transit each lock, according to the Lock Status Report published by the Corps on 7 April. The Corps also shut a chamber at both Cannelton and McAlpine locks. The John T Myers and Smithland locks may close on 7 April as well, the Corps said. The Olmsted Lock, the final lock before the Ohio and Mississippi rivers, will require a 3mph limit for any traffic passing through. The NWS expects roughly 10-15 inches of precipitation fell along the Ohio and Mississippi River valleys earlier this month, inducing severe flooding across the Ohio and Mississippi River valleys. A preliminary estimate from AccuWeather stated an estimated loss of $80-90bn in damages from the extreme flooding. By Meghan Yoyotte Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

Tariffs and their impact larger than expected: Powell


25/04/04
25/04/04

Tariffs and their impact larger than expected: Powell

New York, 4 April (Argus) — Federal Reserve chairman Jerome Powell said today tariff increases unveiled by US president Donald Trump will be "significantly larger" than expected, as will the expected economic fallout. "The same is likely to be true of the economic effects, which will include higher inflation and slower growth," Powell said today at the Society for Advancing Business Editing and Writing's annual conference in Arlington, Virginia. The central bank will continue to carefully monitor incoming data to assess the outlook and the balance of risks, he said. "We're well positioned to wait for greater clarity before considering any adjustments to our policy stance," Powell added. "It is too soon to say what will be the appropriate path for monetary policy." As of 1pm ET today, Fed funds futures markets are pricing in 29pc odds of a quarter point cut by the Federal Reserve at its next meeting in May and 99pc odds of at least a quarter point rate cut in June. Earlier in the day the June odds were at 100pc. The Fed chairman spoke after trillions of dollars in value were wiped off stock markets around the world and crude prices plummeted following Trump's rollout of across-the-board tariffs earlier in the week. Just before his appearance, Trump pressed Powell in a post on his social media platform to "STOP PLAYING POLITICS!" and cut interest rates without delay. A closely-watched government report showed the US added a greater-than-expected 228,000 jobs in March , showing hiring was picking up last month. By Stephen Cunningham Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

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