How long are we going to subsidize the United States and Brazil?

On some nuances, we maintain our optimism for the quotations of the 2025/26 cycle. The high probabilities of a rise for soybeans in Chicago are already clearly materializing; we see good prospects for corn locally (handling the "market times") and a more than promising price scenario for sunflower. Only for local wheat is our vision and has been worrying. A very voluminous harvest (through frost) that is a huge challenge in a very competitive international market. That said, it is quite interesting to carry out a "scoring" of market factors that need to be weighed for decision-making: 1) Milei's attitude towards the countryside (the only president who on the Day of the Industry on August 1, 2024, stated: "to protect the industry, the countryside was robbed ..."). 2) The probability that the electoral result of the 26th of last month will bring investments that allow reducing the exclusive importance of the countryside in terms of revenue collection. 3) The quasi-shielding of the ...