Wheat production in Argentina is at its highest level since the beginning of this century

The Grain Exchange in the Argentine capital, Buenos Aires, confirmed that wheat production is expected to reach 25.5 million tons, which is the highest level since the beginning of this century, according to what was reported by the Argentine Buenos Aires Times newspaper.

Farmer shipments by truck to the river shipping hub of Rosario reached a record high last November, reaching nearly two million tons, double the average of recent years, according to a report by the Argentine city’s trade council.

This huge influx pushed the prices received by local farmers to their lowest level in eight years, with additional discounts due to lower protein levels in wheat crops, according to the Rosario city report.

For global buyers, Argentine FOB wheat prices are $206 per ton for January delivery, according to the Commodity global commodity price platform, which is lower than the prices of many competitors, including the United States, Australia, Russia and France.