Argentina Corn Exports Projected to Hit Record Highs

Argentina is expected to reach a record 10 million tons of corn exports in August and September. This surge is driven by an exceptional harvest estimated at 71.7 million tons for the 2025/26 season, which is nearly 20 percent above the previous record set five years ago. International buyers are increasingly turning to Argentina as alternatives to Ukrainian supplies and European crops.

Demand from North African countries has been a primary driver of this growth. Shipments to this region rose 45 percent in the first seven months of 2026, totaling 6.5 million tons. Morocco saw the largest increase with a 133 percent jump to 1.55 million tons, followed by Egypt at 2.4 million tons and Algeria at 2.4 million tons.

Trade patterns are shifting due to Russian attacks on export infrastructure in Odessa, Ukraine, which have blocked ports that previously handled 90 percent of Ukrainian grain exports. While Ukraine has attempted to divert cargo through Danube river ports, record heat waves and drought in Europe have lowered water levels, restricting shipments. Consequently, Ukrainian production is more likely to be transported by land into Europe.

Additionally, a decline in Brazilian exports has benefited Argentina. Brazilian shipments fell nearly 20 percent from a previous record of 53 million tons. Much of this corn is now being diverted to Brazil's growing domestic ethanol industry, with internal consumption rising 7.1 percent to 98 million tons for the 2025/26 season.