In Argentina, there is currently strong purchase pressure from exporters on a range of agricultural products, particularly wheat, while sales are experiencing a slowdown. Recent figures indicate that total purchases of wheat have reached 13.3 million tons, with 9.8 million tons at set prices and an additional 3.6 million tons pending pricing agreements. Out of this total, 1.1 million tons have already been fixed, reflecting a significant level of commitment from exporters amid fluctuating market dynamics.

The overall volume of purchases at fixed prices and those awaiting price fixation amounts to 10.9 million tons, compared to total exports reported in the Declaraciones Juradas de Ventas al Exterior (DJVE), which stand at 10.4 million tons. This situation puts exporters in a position of equilibrium, as their sales correspond closely to their purchases, yet it raises questions about future pricing strategies. Given the expected record wheat production in Argentina of nearly 28 million tons, analysts suggest that the probable exportable surplus could reach up to 18 million tons.

The potential for price increases hinges on this balance of supply and demand, particularly as the upcoming months show indicators of strong export interest amid slower sales rates. If exporters maintain their aggressive purchasing stance while sales lag, a rise in wheat prices may be on the horizon, impacting both the domestic and international markets for Argentine wheat.