Soybean dollar sales boom continues: over 3 million tons were traded in three days and US $ 1,000 million in foreign currency entered

Producers sold one million tons of soybeans this Wednesday, and in the first three days that the soybean dollar started working, it has already surpassed 3 million tons. Given this volume, exporters have entered over $ 1,000 million and the government is thrilled to exceed the $ 5,000 million raised.

According to the analysis of the Borsa del Rosario based on the SIO-Granos, eOne million tons were sold on Wednesday, including both new sales contracts and transaction settlements agreed before Wednesday, and excluding cancellations. With this, the total business with soybeans in the domestic market since the entry into force of the export increase programamounts to 3.1 million tons.

For comparison, on Thursday 1st of the current month, when there was still no incentive for producers, sales had reached 70,000 tons.

Compared to the transactions recorded yesterday, the main items in the volume of registrations were the new sales contracts concluded, with 417,600 tons with an average value of 68,840 dollars, a slight decrease of 1% compared to the average value negotiated yesterday. In second place are operations repairs arranged before Wednesday for 252,000 tons, for an average value of $ 68,466.

In relation to the deals agreed in dollars, the soybean sales contracts concluded Wednesday recorded an average value of US $ 382, ​​for a volume of 5,720 tons; while fastenings of 45,670 tons were recorded for an average value of US $ 359.

The Chamber of the Petroleum Industry of the Argentine Republic (Ciara) and the Cereal Export Center (Cec) reported that 72 hours after the start of the soybean dollar, currency earnings amounted to $ 1,075 million after strong sales occurred.

Thus, from the chamber that brings together exporting companies, they exceeded the target set last Sunday, which was to liquidate $ 1,000 million in the first week.

So from the government they are thrilled andn exceed 5,000 million US dollars, the basic amount for September established by decree 576/2022.

“The field accompanies us with record sales and the soybean dollar has exceeded our expectations. At this rate, we expect to exceed the expected $ 5 trillion dollar,” said the Secretary of Agriculture. Giovanni Giuseppe Bahillothis Wednesday, when the 2022-2023 sowing campaign began today, at the corn seed classification plant of the Association of Argentine Cooperatives (ACA).