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 News

21/08/2017 0:00 - Agricultural Commodities Market
FEDERICO DI YENNO
Soybeans export sales far behind past averages

Due to strong international competition, soybeans export sales from Argentina have been slow when compared to other marketing years, despite the fact that FOB prices do not differ significantly between the main exporters.

Last week, local soybean prices and traded volume declined following the sharp fall in CBOT prices. Domestic currency appreciation added to the bearish trend concluding in peso-denominated offerings far below those from the last week.

At the beginning of the week, there was little activity in our exchange, with bids for cash soybean starting at ARS 3,950 per ton, well below the previous week. Earlier in Thursday, traded values were reaching values of ARS 4,100 and ARS 4,200 per metric ton. Soybean trading picked up after reaching that mark and another large quantity of soybeans received price settings. On the other hand, bids for 2018/19 soybean stood at US $ 246, although no market volume is recorded as in the case of cash market.

 

Soybean export sales (DJVE) reached 6.4 million tons as of August 17, far behind compared to the last six marketing years, a fact we had already indicated in previous reports. What we should expect from now on is a slowing pace for exports from August taking into account the behavior of the other marketing years. If the DJVE follow the same patters of the previous years, it is possible that exports of soybeans will end up even below 8 million tons for the 16/17 season.

 

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Institutional Video of the Bolsa de Comercio of Rosario (Rosario Board of Trade)

 Rosario Board of Trade

The Rosario Board of Trade is a centennial institution located in Rosario, in the most important agroindustrial zone of Argentina. Throughout its history it has created and boosted transparent, solid and reliable markets: the Grains Physical Market, the Futures Market, the Capital Market, and the Livestock Market.

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Bolsa de Comercio de Rosario Córdoba 1402 - S2000AWV
TE: (54 341) 5258300 / 4102600
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Rosario - Santa Fe - Argentina

Oficina Buenos Aires Reconquista 458 piso 7° - C1003ABJ - Cdad. de Buenos Aires.
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