Argentine government says 74.2% of 2021-22 soybean crop sold so far
Dec, 08, 2022 Posted by Gabriel MalheirosWeek 202249
Argentina soybean sales surged last week to 74.2% of the current harvest, helped by a preferential exchange rate, though sales trailed the totals seen at the same point last year, the government said Wednesday, December 7.
Producers sold 556,000 metric tons in the week of Nov. 24-30, the highest weekly figure in months, the agricultural secretariat said, though the season’s sales so far still lag the 76.9% of last season’s crop sold at the same point a year ago.
Last week, sales spiked after officials reinstated a temporary preferential exchange rate for producers, the so-called “soy dollar” foreign exchange rate.
The secretariat also reported Wednesday, on Dec. 7, that the country had sold 72.8% of its 59-million-metric tons 2021-22 corn crop, down from the 75.3% seen in the same period the previous cycle.
The planting of corn for the 2022/23 cycle began in September in Argentina, the third largest exporter of the cereal, although a prolonged drought slowed its growth and resulted in the smallest area planted in six years, data from the major Rosario grains exchange showed.
Source: Ag week
To read the original article, please click on: https://www.agweek.com/business/markets/argentine-government-says-74-2-of-2021-22-soybean-crop-sold-so-far
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