Most of the crops in Argentina suffered severe cuts last season due to the drought that affected the country. As a result, the recovery of the sector in the current season will have a major positive impact on the country's level of activity as well as on foreign currency income.
Agricultural exports in 2019 – including soybeans and its by-products, corn (grain), wheat (grain and meal), sunflower and barley - would account for US$ 28,000 million. This projection is based on shipments schedules and FOB prices. The soybean complex exports – beans, soyoil, soymeal and biodiesel – would account for US$ 18,364 million while the exports of other agricultural products add up US$ 9,629 million.
Projected exports would be more than US$ 4,500 million above 2018 exports. Moreover, given the expected fall of soybean imports in 2019, the complex's contribution would totalize US$ 6,400 million.
Based on a monthly analysis, the exports in 2019 would overcome last year's exports in almost every month. From January to March, wheat, barley and soybeans by-products will support agricultural exports. From June to August, corn is likely to lead Argentine exports. Last year, second-crop corn was critically damaged by the drought; therefore, this season's second-crop shipments will make a great difference. Nevertheless, corn FOB prices in the current marketing year are 6% below last season. Between April, May and June, soybean shipments will underpin Argentine exports.