In Argentina, dollars are yellow: Corn exports are advancing with great dynamism.

Early corn marketing in Argentina is experiencing strong demand from international markets, including Europe and Africa, due to the withdrawal of Brazil from the market and uncertainties in the U.S. under Trump's protectionist policies. As a result, FOB Rosario corn prices are higher than in the U.S., attracting Argentine producers. The improvement in the 'export dollar' and official declarations for 665,000 tons of external sales for 2024/25 corn contribute to the inflow of foreign currency into the Argentine economy. Domestic consumption also puts pressure on grain prices, providing trading opportunities for producers. In Brazil, while FOB prices remain stable, prices in reais are declining due to the appreciation of the real.

The marketing of early corn is progressing at a good pace in the Argentine market, given the commercial opportunity presented by the cereal in the current situation. With Brazil withdrawn from the market until the arrival of the late corn harvest—which occurs mid-year—and the uncertainty in the U.S. due to Donald Trump's protectionist policies, many countries are choosing to source corn in Argentina. This means that, at the height of the first-planting corn harvest, FOB Rosario corn prices are higher than FON Gulf of Mexico (U.S.) prices, when the relationship is usually inverse because the northern country is in a "low season" for the cereal. The prices offered for corn are attractive to many Argentine producers, especially because they know well that when the Brazilian late corn harvest begins to arrive, a significant drop in prices will occur. This is evident in the A3 agricultural futures market (formerly Matba Rofex), where this Tuesday the Rosario April 2025 Corn contract ...