In this scenario, if exports from regional economies and beef, among other products, are added, the countryside would contribute around US$50 billion. The dollars will be there, the conflict then focuses on how the BCRA will act in the following rounds to meet the demand and at the same time take advantage of the flood of dollars from the countryside.
In favor of the Argentine economy, the prices of agricultural commodities, in a context of extreme volatility due to various factors, but mainly due to the war between Russia and Ukraine, remain at historical maximum levels.
Soybeans had a black Tuesday, after the July soybean contract lost US$18 to close the wheel at US$618.49, but this Wednesday managed to return to the positive path again after rising US$2.57 per ton, to end the day at u$s621.06. The oilseed then remains firm in the field of US$600 per ton, thus ensuring an income of no less than US$20,000 million during this 2022 to the local economy.
For cereals the story is different, although they are still at high values. With a negative result, corn was traded again in Chicago, in tune with the new fall in wheat, which spread its trend to the rest of the foragers, but also due to the pressure already exerted by the second harvest of Brazilian corn, which in few weeks will begin to enter the commercial circuit. In short, the cereal lost US$8.76 to close the wheel at US$287.88 per ton.
In this scenario, wheat was the most affected crop after showing a drop of more than US$20 per ton yesterday and US$17 on Wednesday, to close the round at US$382.59.
Among the factors that accentuated the losses was the latent chance of unblocking the exit of the grains held in Ukraine since the beginning of the war. In this sense, Turkey’s initiative to create “safe corridors” for ships received the approval of the White House. “We understand and strongly support the diplomatic efforts of our Turkish allies to end this war, primarily to reduce violence and at the same time find ways to facilitate the export of food, including Ukrainian wheat,” said the spokesman for the US Department of State, Ned Price.
Source: Ambito
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