Argentine Producers Hold $18.7 Billion in Unsold Soybeans and Corn

Argentine producers are holding onto a substantial volume of unsold soybeans and corn, estimated at 42.14 million tons and valued at approximately $18.7 billion. This significant stockpile reflects a strategic approach where soybeans, in particular, are viewed as a store of value, with producers reluctant to sell unless necessary for payments or to acquire farming inputs.

Data from the Agroindustrial Monitor indicates that 28.42 million tons of soybeans from the 2025/26 harvest remain unsold, representing 57% of the crop. Of this, 21.15 million tons are available for immediate sale, while 7.26 million tons are pending price fixation. An additional 2.33 million tons from the previous harvest are also awaiting pricing.

The market dynamics show that producers consider soybeans a reserve of value, not feeling pressured to sell. They will only liquidate holdings to meet payment obligations, purchase seeds and fertilizers for summer crops, or pay for planting, spraying, or fertilization services. The year-round demand for soybeans from exporters and oilseed crushers, who need to maintain their processing levels, supports this producer strategy.

In the corn market for the 2025/26 campaign, producers have 13.72 million tons unsold, with 7.7 million tons available for sale and 6.01 million tons pending price fixation. This represents 34% of the estimated exportable balance. Exporters are actively buying to cover their short positions, which currently stand at 1.348 million tons, indicating a firm demand for corn. However, the overall unsold volume across both crops highlights the significant financial value producers are holding.