The 2024/25 growing season was characterized by marked climatic variability across the country's different production regions. Summer planting began with good water conditions, but in January, during the leaf expansion stage, temperatures were very high and rainfall scarce. In February, rainfall patterns improved, allowing for good final development.

In short, the 2024/25 campaign was among the 5 best in Argentine history, reaching 140 Mtn, in 43,6 Mha sown and 38,3 Mha harvested.

Evolution of production (Mtn) and planted area (Mha) from 1990 to 2025

Regarding the main summer crops, soybean cultivation increased by 1,5 million hectares, sunflower cultivation by 500,000 hectares, while corn cultivation decreased by 2 million hectares. The reduction in corn acreage is explained by a sharp decrease in the area used for second-crop corn due to the risk of the leafhopper infestation and projected downward trends in grain prices.

Yields were close to the averages of the last 12 years, reaching a production of 51 million tons of soybeans, 51,5 million tons of corn, 5 million tons of sunflowers, and 3 million tons of sorghum. Among winter crops, wheat stood out with 18,5 million tons and barley with 5 million tons.

Yield of the main crops in Argentina over the last 5 years

Forecasts for the 2025/26 season indicate record production for major crops, with increases exceeding growth in demand/consumption. This suggests that prices will likely remain low, close to current levels.

A record wheat harvest is expected for the 2025/26 season due to favorable weather conditions and a 5% increase in acreage, although a reduction in barley production is also anticipated due to a 15% decrease in acreage. Regarding summer crops, increases in acreage for corn of 1,1 million hectares and for sunflower of 400 hectares are estimated, while acreage for soybeans is expected to decrease by 600 hectares.

Regarding the evolution of local prices, the 2024/25 season was characterized by policies of temporary reductions in export duties, which allowed for slight improvements in local prices throughout the season. Furthermore, so far in 2025, almost US$30 billion has already been settled, with November and December still to come, when settlements typically reach between US$3 billion and US$5 billion (primarily from wheat sales to Brazil).

We reiterate the importance of the Oilseed and Cereal Complex, as it generates the most foreign exchange in Argentina, and how macroeconomic and political stability often depends on what happens with these sectors. commoditiesWe highlight that in October 2025, over US$7 billion was liquidated due to the temporary elimination of export duties, which, along with other measures, allowed the current government to mitigate exchange rate risk. Currently, export duty rates are at the levels prior to the temporary reductions. In other words, they have returned to their previous values.