Argentina: The sale of soybeans is delayed and is the lowest in 19 years

Despite the good international price, agricultural producers are delaying soybean sales due to economic uncertainty in the country. Fundamentally, it is due to the exchange gap that exists -and which has deepened today- between the official dollar -at which the producers sell- and the alternative dollars. According to the latest official data as of June 22, producers marketed this year 19.09 million tons of soybeans, 44% of the production that reached 43.8 million tons, against 22.9 million tons of last campaign (50% of the harvest) Beyond what was negotiated, only 25% of production has been priced, while last year more than 35% already had a fixed price. As analyzed by the Rosario Stock Exchange, this campaign is experiencing the lowest sales of the oilseed in the last 19 years in absolute terms. "You have to go back to the 2003/04 campaign to find a lower record measured in tons for this date of the year," said the entity in a recently published report. In the case of corn, ...