As the Central Bank continues to transfer reserves to try to contain the price of the US currency, the government closely follows the evolution of the blue dollar, which closed at $ 291 on Tuesday, a weight more than the first day of the week.
News in development
New corn export quota: is it any good?
Restrictions on the export of corn.
Agricultural Markets Undersecretary Javier Preciado Patiño has announced the opening of a new corn export quota of 10 million tons for the 2022/23 campaign, in addition to the 9 million tons already recorded. Therefore, the government sets the new “budget volume” for maize at 20 million tons.
“This type of news exists only in Argentina, it is a very special country”, comments Sebastián Gavaldá, the grain market analyst and director of the consulting firm Globaltecnos, and explains: “Last season Argentina exported 40 million tons and this 21/22 campaign will end at 35 or 36 million, and now the news is that from an opening of 10 you have gone to 20. That is, there must be one or two more openings because you are with half the exportable balance of the previous year. ”Read more here.
The Central Bank sold $ 145 million and in just 6 days it lost as in October
After selling $ 150 million on Monday, the Central Bank got rid of another $ 145 million on Tuesday. Without the “soy dollar” incentive and with demand from importers that, despite increased official controls, remains solid, the monetary authority has had to shell out US $ 535 million in the foreign exchange market to date. to maintain the stability of official exchange rates. Vote. Read more here.
Source: Clarin
