Export Boom: Wheat Achieves Surprising Record, Oils Follow with Historic Highs

Argentina's wheat exports are experiencing a historic campaign, with a record 14.77 million tons shipped between November 2025 and May 2026. This volume significantly exceeds the 8.1 million tons exported in the same period last season and 5.9 million tons two cycles ago. While May exports saw a slight decrease to 786,042 tons from April's 1.127 million tons, the cumulative performance confirms one of the most successful export seasons for the grain.

The strong export performance extends beyond wheat. In May 2026, soybean exports reached 1.64 million tons, the highest volume for that month in five years. Soy flour exports also increased by 3.37% to 2.479 million tons. Soybean oil exports hit a five-year high for May at 522,951 tons, and sunflower oil exports rose by 4.9% compared to April, with January-May cumulative exports reaching a record 687,318 tons for that period.

Globally, sunflower production is projected to reach a record 62.66 million tons in the 2026/27 campaign, a 13.4% increase from the previous cycle, according to the U.S. Department of Agriculture. This surge is driven by a strong recovery in Northern Hemisphere production. Despite increased supply from Ukraine, Russia, and the European Union, Argentina's sunflower sector is maintaining a strong performance, with exports totaling $1.674 billion between January and May 2026, a 126.1% year-on-year increase.