After the announcement of the new soybean dollar, the price of oilseeds collapsed in the local market

Earlier in the week and following the announcement of the soybean dollar at 200 pesos, the September soybean position lost $ 25 per ton on the Rosario futures market, going to from 380 to 355 dollars per ton.

Meanwhile, in the Chicago market, the main world reference for oilseeds, there are no operations because in the United States it is Labor Day.

According to Adolfo Shaw, an analyst at brokerage firm Zeni, that $ 355 per tonne comes from a small 100-ton bean operation, with which It is not yet a representative price. “In addition to the parity price calculated by exporters taking into account the FOB price, withholdings and the exchange rate, the value will be determined by supply and demand. Today the points are very open between what the buyers offer and what the sellers want, it will be necessary to see where they are. The producer knows he has all month to sell the soybeans and he will wait to see how the market adapts, “says Shaw in a dialogue with Rural trumpet.

The analyst believes that the measure implemented by the government will have effects on the market. Without going further, he specifies that between last Thursday and today, in pesos, soya went from 52,000 to 71,000 per ton, a substantial difference. It also adds information showing producers’ interest in taking advantage of the special September window. Today, while the September position traded those few hundred tons, the November position crossed 51,000. “You see, there are a lot of people who have sold that position and now want to buy it back so they can sell it in September,” says Shaw.

The new regime for the marketing of soy, which will be a special exchange of 200 pesos between 5 and 30 September and it will be on a voluntary basis, the Minister of Economy Sergio Massa announced yesterday after the meetings held in recent days with the leaders and technicians of the liaison table. According to the national official, over the past 15 days there have been a lot of discussions with exporters who have reached an agreement by signing a commitment to liquidate a guaranteed $ 5,000 million floor.

This implies that if exporters are far from this amount, they will be forced to increase demand in the local market. In this competition between the demand of the exporters and the supply of the producers, the ever-dynamic prices of oil seeds will be established.

The Secretary of Agriculture, Juan José Bahillo, highlighted the benefits that the new “dollar-soybean” at 200 pesos will bring between now and 30 September. “This is a measure that greatly improves the income of soybean producers, by 40%. Soybean producers were selling a ton for $ 52,000, on average, and will now charge around $ 72,000. I have no doubt that the manufacturer will join this program“.