translated from Spanish: Economy: Wheat currency revenue record for Argentina

International trade has favored Argentina’s growth in soybeans and maize at high levels of US$600 and US$300 per tonne respectively, in the Chicago market. The news that adds up has to do with an upcoming campaign for the very good yield of wheat to be sown, which will generate a record foreign exchange income In this way, 30% more than the current one is projected for the 2021-2022 campaign, and the highest value exported in the registers in a Rosario Stock Exchange report. Thus, a total of almost US$3.2 billion will be raised.

“Global uncertainty and volatility do not escape global agricultural commodity markets. Nationally, the harvest advance is seen in the entry of trucks, although there is still a long way to go,” said the guidine bag Guido D’Angelo, Emilce Terré and Tomás Rodríguez Zurro.” Many of the agricultural and non-agricultural commodities, such as metals, exceeded or are close to making it their highest prices in history. In the case of soybeans, it re-listed over $600 a tonne on the Chicago Market for the first time since 2012,” the report says. On the other hand, they suggested that while the commodity ups seem to have no limits, there are “latent risks that could put an end to this bullish rally.” Likewise, risks of limitations were established with respect to the production of the coming season that will be defined as plantings or subsequent harvests progress.

Original source in Spanish

Related Posts

Add Comment