Record wheat harvest in Argentina creates logistical challenges and puts pressure on prices

million tonnes and notes that further upward revisions are possible as harvesting continues. Over the past week, harvest progress jumped more than 13 percentage points to 73.3% complete. This bumper crop is creating logistical challenges and putting downward pressure on wheat prices. Industry sources report that the harvest volume is so large that it has sparked a real rush to move grain to export points. Farmers are eager to clear storage and make space for new deliveries. As a result, truck deliveries to the river terminal in Rosario reached a record 2 million tonnes in November, nearly double the usual volumes seen in recent years, highlighting the scale of the grain flow. The large harvest is also affecting prices – Argentine wheat FOB for January delivery is trading at $206–209/mt, making it more competitive compared to supplies from the Black Sea region, France, and the United States. This has already stimulated fresh demand from international buyers. Market sources indicate ...