In the Markets Panel of the Acsoja 2023 Symposium, market specialists Emilcé Terré from the Rosario Stock Exchange; Bruno Todone, from the consulting firm Safras & Mercados, and Dante Romano from the Austral University and the FyO brokerage, described the economic perspectives of soybeans and byproducts, analyzing the Argentine market and two other main producers, the United States and Brazil. The moderation was carried out by Marcelo García from the Rosario Cereal Corridors Center.
Terré pointed out that the 2023-24 soybean campaign is developing with a scenario marked by lower production in the United States, the recovery of Argentine production - after the historic drought that devastated the 2022-23 harvest - and another large production from Brazil. . "A recovery of the world stock is assumed to 119 mill/ton, although the inventories of the United States will be lower. This combo means that soybean prices have fallen 13%, although it is a smaller fall than that of corn, which is 30%," he described. In the case of byproducts, Terré said that there will be a 5% increase in production, driven by soybean oil (over flour), since the former "has a lot of demand for biofuels." On the other hand, the price of biodiesel will see a recovery reflecting the increase in the price of oil. "In 2024, the oil that will increase the most is soybean oil; the other oils will not grow," the economist predicted. In the case of the Argentine market, Terré analyzed that the ...
By clicking “Accept Cookies,” I agree to provide cookies for statistical and personalized preference purposes. To learn more about our cookies, please read our Privacy Policy.