The evolution of available grain prices is affected by fundamentals of the grain market (world and local supply and demand) and at the same time by variables of the local macroeconomy. The latter, both what has happened in the recent past and expectations for the immediate future, often weigh more in the thought process of the agricultural producer than the fundamental factors for making decisions. As we reach the last weeks of the year, it is useful to analyze what has happened with the available prices of grains in pesos, along with the evolution of the wholesale exchange rate and inflation, to interpret how the yield of settlements varied amid structural changes in the country. • PERFORMANCE OF SOYBEAN SETTLEMENTS 24/25 The graph shows annual variations, that is, the value of each date with respect to the value of the same date of the previous year, for soybeans and the wholesale exchange rate, as well as the year-on-year inflation of each month with respect to the same month ...
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