In recent days it emerged that the Government could offer a 50% improvement in pesos of the exchange rate to those producers who decide to sell soybeans in the coming weeksbut the truth is that there is no official confirmation that this measure can be announced this week.
The only sure thing is that the milling industry is also pressing for producers to sell more soybeans. So far, some 21.1 million tons of last season remain to be marketed and, as explained by the sector, the crushing factories work with a high idle capacity, which ultimately will also have an impact in the medium term on the income of dollars from the countryside.
Meanwhile, with regard to the pre-financing of exports, through this mechanism last week around US$220 million entered the Central’s gross reserves and official calculations are that by the end of this week US$1 will be reached. 000 million promised by agro-exporters. In any case, the accounts are far from closed because in the first instance the Government expected an extra liquidation of US$1.5 billion for the soybean dollar, something that in practice did not happen.
According to the Ámbito survey, As of last Friday, around US$1.9 billion entered the local exchange market and August would close, hopefully, at around US$3.0 billion. A figure by no means insignificant but quite far from the official aspiration.
What would follow from now on would be to aim the cannons towards the few days remaining in August and all of September in case the Government implements a concrete measure that could tempt producers to sell more soybeans. Otherwise, it is expected that in the ninth month of the year the income of dollars will be even lower than in August, but for that there is still a long way to go and not everything has been said. Days of definitions are coming.
Source: Ambito
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