The fifth edition of Export Increase Program (PIE), also known as soybean dollar 4which on this occasion applies exclusively to the soybean complex, exceeded the 3.1 million tons of soybeans marketed three weeks after the measure was implemented, and five days from the end of its validity.
The market analyst at the Grassi brokerage, Juan Manuel Ubertinoted that “in the daily volumes (marketed) a little dynamism is being lost in businessat least compared to the first days“.
“Prices remain firm, attractive, and we must consider that this It would expire at the end of this month. This pace could be maintained even though it has already shown a decline, to take advantage of the incentive while it lasts. Yes ok There were rumors that it would be extended for a while longer.still there was no official statement about it,” added Uberti.
According to calculations of the Rosario Stock Exchange (BCR) and market operators, among new contracts and pricing settings of businesses previously made to measure, more than 3.1 million tonsin a context where grain stocks at the time the measure began did not exceed 9 million tons.
According to the grain market analyst at the consulting firm AZ Group, Catalina Ferrarithose 3.1 million tons correspond to “a limited volume due to low availability of grain that remains in the hands of the farmers and by the uncertainty that generates the economic context, which requires keeping merchandise to pay rent and supplies“.
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For his part, for the director of the consulting firm, Nicolás Udaquiola“in 2023 the producers They are selling the few grains harvested gradually, depending on financial needs. Thus, they took advantage of the Soy I, II and III dollars and, more recently, the Corn dollar until the devaluation of the peso.”
“The same thing is happening with the Soybean 4 dollar. Farmers make commercial decisions based on payment needs going through a difficult year due to low production. They sell soybeans under the latest program because its price is better than that of corn and they cancel debts or buy supplies“, summarized Udaquiola.
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Courtesy: Sudeste FM
Soy dollar 4: in what context it was implemented
In addition, before this edition of the PIEthe bean marketing registered all-time lowswith averages ranging from 25,000 to 50,000 tons negotiated in a manner daily.
From the implementation of the also called soybean dollar 4the level of business in the local market was, depending on the day, in a range of 150,000 to 350,000 tons per dayfrom a improvement in the price paid by industries to farmerswhich in some cases exceeded the $165,000 per ton.
One of the reasons why this measure was implemented was provide merchandise to the processing industry for produce flour, pellets and soybean oiland then export added value.
Source: Ambito
