On the other hand, the price that producers receive for the available merchandise and that can definitely move the needle of foreign currency income beyond the initial agreement of the agro-exporters of US$3,000 million, was once again around $85,000 a ton, more precisely, it closed on Tuesday at $84,000 a ton. This value was not exempt from controversy because it was Minister Sergio Massa himself who acknowledged that at the beginning of the day on Monday some agro-export companies offered a much lower price and that for this reason the Government would have adjusted some pins with a direct talk with the agro-export companies .
In any case, once this episode was revealed from the chamber that brings together the agro-exporters, CIARA CEC, they came out to clarify that any government intervention in an unregulated market is improper. The truth is that currently what the team led by Massa is looking for is for primary producers to receive their share of the soybean dollar at a tempting price and thus sell more grains. Official statistics show that some 11 million tons valued at around US$6,000 million still remain to be sold and are in the hands of farmers.
Beyond the controversy, the market continued with its usual dynamics this Tuesday and this was felt not only in the income of foreign currency but also in the sales of producers, which continued at a steady pace. What is expected for this week is that foreign currency inflows will greatly exceed US$1.5 billion. With a precedent behind it that clearly marks how the market woke up with the soybean dollar: all of November would close with a foreign exchange inflow of between US$1.2 billion and 1.5 billion.
Logically, the success of the soybean dollar It will be essential for the Government to reach the next oilseed harvest with greater peace of mind, but the situation is also quite complex as a result of the drought. Planting for the next campaign is progressing very slowly and something unprecedented is happening: more than 1 million hectares of the core region will only be planted in December, when it is expected that there will be rainfall that will provide more moisture to the soil.
Although a soy campaign is projected that could contribute in total, taking into account by-product exports, more than US$24,000 million in foreign currency, everything will depend on the weather and, for now, the forecasts do not show a good profile of rain for the next few weeks.
That will be another issue that the Government is closely following, taking into account its extreme need to manage the foreign currency it has. The accounts are very fine, but for now the first results of the soybean dollar brought a little more calm.
Source: Ambito
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