Argentina has sold its availability and will now need to import soybeans, according to information released by TF Agroeconomia. In an interview with the website Infocampo Gustavo Idígoras, president of the Chamber of Olive Oil Industries of the Republic of Argentina and of the Cereal Export Center (CIARA-CEC) said that "the soy dollar in December provoked a greater purchase than expected". "With this, there will be no more commercial stock to buy until the next crop in May or mid-April," he said. "Therefore, the current soybean stocks in most factories are only sufficient until February", said the businessman and director, regular spokesperson for the sector. What will CIARA-CEC do?
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The idea is to seek more provisions in the period from February to May. “And that's where the temporary issue comes in, which historically is Paraguay and a good part of southern Brazil, plus a little of Bolivia. This is what is being seen now," he said. Regarding the exchange rate, the dollar had little liquidity with the US holiday. “After a drop of 2.48% last week, the dollar ended the session this Monday, the 16th, up 0.83%, quoted at R$ 5.1486, on a day of very low liquidity, since that American markets were closed due to the Martin Luther King Jr holiday. In the USA. Despite the increase today, the dollar still accumulates a low of 2.49% in January”, he added. “Aside from a small drop at the opening of business, the dollar operated on the rise throughout the trading session, fluctuating between R$5.10 and R$5.12 in the morning and early afternoon throughout the morning ...
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