Argentina: After the USD dollar rally, they expect up to USD 25 billion from this years harvest
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This was estimated by the Ministry of Finance. Soybean exports will be the main foreign exchange generators for up to USD 17,200 million of this the 25 billion.
In the midst of the strong rise of the USD dollar, the Government stressed that in the coming months they expect foreign exchange for up to 25 billion dollars. Soybean exports will be the main foreign exchange generators for up to USD 17,200 million. Corn exports would reach USD 4,874 million in 2019 (calendar year), with a conservative view, and thus will increase 13% with respect to 2018. This is the highest value since 2013 when the export price was 73% higher.
The bulk of these exports will be concentrated between March and August. According to data from the Ministry of Finance, the outlook for corn production in the current season (2018/2019) is also very good, with 90% of crops in normal to excellent condition. The yields recorded in the harvested area, although it is estimated that only 4% of the planted area has been harvested, set records of productivity. In this way, all sources expect a record harvest, from 45 to 46 million tons for commercial corn, without taking into account the feed corn.
In the case of exports of soybeans (and by-products), they would increase by 18% to USD 17,200 million.
The prospects of the current campaign (2018/2019) are very very good, with 90% of crops in normal to excellent state, highlighted from the portfolio driven by Nicolas Dujovne. “For soy we estimate production of 54 million tonnes, increasing 45% compared to the previous season, affected by the drought,” they added.
Regarding wheat, whose harvest ended at the end of the December 2018, and they expect USD 3.2 billion of exports for 2019. This is due to a record production of 19.5 million tons, surpassing the maximum reached in the previous season.
Most of the sales are concentrated between December and April.
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