He blue dollar opens a new foreign exchange wheel this Monday after the very long Easter weekend. At its last listing, the parallel market currency had closed at $392 for the sale.
New in development
At the beginning of the 3 soybean dollar and 1 agricultural dollar, the question remains whether a 30% devaluation reaches
Such is the disequilibrium of the Argentine economy that, at the gates of the $3 soybean and $1 agricultural dollar with a $300 dollar implying a 42% increase and a 30% devaluation, the question remains whether the measure is sufficient .
On Wednesday, the Minister of Economy, Sergio Massa, launched the new exchange rate scheme that he had anticipated the previous week and which essentially consists of raising the price of the dollar from 211 to 300 dollars for the liquidation of exports for 45 days for soybeans and for five months for regional economies.
According to estimates by the consulting firm Equilibra (Diego Bossio / Martín Rapetti), $7 billion will be cleared for soybean exports and $1.9 billion for the operations of regional economies. To know more.
Soybean Price: ‘Soy Dollar’ and US Climate Market Will Cause More Volatility
In Brazil, pressure on soybean prices continues. FOB soybean price premiums in Brazil dropped to lows due to ample supply on the market and lack of storage space and capacity. In a context of macroeconomic uncertainty.
Chicago agricultural commodities market started with two bullish rounds overall last week, although ahead of the long weekend and positioning ahead of USDA’s monthly report caused significant price setbacks with reduced risks . Both grains and soybeans finished lower for the past week.
Wheat was reluctant to continue falling between last Monday (3) and Tuesday (4) due to not so favorable news about US harvest conditions. However, both export controls and foreign sales from the US. The United States has not shown a good level of demand and prices have continued to lose ground. To know more.
The Government has published the agricultural dollar decree: the main measures
Sergio Massa presents the results of the 25 days of the soybean dollar to the Ministry of Economy. Photo: Capture
The government gazetted Monday on Monday the regulation corresponding to the third Export Enhancement Program (PIE), better known as the agricultural dollar, which establishes a differential value of 300 dollars for the currency for those who market products of the soybean complex and regional economies.
In the first case, the period envisaged for the operations will be until 31 May, while in the second they cannot exceed 31 August. Thus it was organized through the Decree 194/2023, which came into force since its officialization and which had the signatures of Alberto Fernández and all of his cabinet. To know more.
Source: Clarin
