Argentina's Corn Exports Surge Amid Ukraine War and European Heat Wave

Argentina's corn exports are on track to reach a record 10 million metric tons in August and September, driven by a bumper harvest and strong international demand. The country's crop yield has been boosted by favorable weather conditions, with the government estimating a 71.70 million-ton harvest, nearly 20% above the previous record set five years ago.

The trade shift is largely due to the war in Ukraine, which has disrupted grain exports from the region. Russia's attacks on export infrastructure have effectively blocked seaports that handled 90% of Ukraine's grain exports, forcing Kyiv to divert cargo through lower-capacity Danube River ports. Drought and record heat waves across Europe have also drained water levels along the congested Danube, further constraining Ukrainian shipments.

'Argentine corn right now is very competitive in price and in volume,' said Gustavo Idigoras, head of the CIARA-CEC grains exporters and crushers chamber. Demand from North African countries has been a primary driver of this growth, with shipments to the region rising 45% in the first seven months of 2026.

The increased demand for Argentine corn reflects shifting dynamics in neighboring Brazil, where Brazilian shipments have fallen nearly 20% from a record 53 million tons over the past three years. Much of the corn that exporters would have loaded at ports such as Santos or Itaqui is instead supplying Brazil's booming ethanol industry.