Agricultural market analysts german iturizaappeared on Channel E and addressed the current situation in the grain trade, warning that strong foreign exchange appreciation in the agricultural export sector could reduce dollar revenues in the coming months.
“In Argentina we live at lightning speed. Every month is a year for the world” said Germán Ituriza, emphasizing that “the $7 billion deposited on September 25th, 26th and 27th”. They were amazing lifesavers. This is so that the government’s gang program can be maintained. ”
Dollar consumption is active in October
As he developed, this injection of foreign currency made it possible to maintain the exchange market.Reinforcements from the North American government A great ad appears and then With the specific execution of the swap “It’s somewhere between $2 billion and $3 billion,” he said, but he warned that the situation had become complicated in October.It was a brutal October in terms of dollar consumption. It was to feed the dollarization of the domestic market, but this was also a huge and truly fatal ups and down. ”
Iturriza explained that this export development created a gap in the following months. Weakness has begun in terms of foreign exchange earnings”.
Difficulty in closing down the agricultural sector
Similarly, he noted that the government had been able to stabilize expectations thanks to the use of swaps and the confirmation of exchange rate schemes, but that “the market today, especially the soybean and soybean complex market, struggling to start a new business”.
An interviewee explained: “Currency affidavits are divided into two types. Those for which foreign currency has already been entered and those for which foreign currency will be entered from now on.He emphasized that the new operation was “26% issued for soybeans, 9.5% for corn, and 9.5% for wheat.”
In this sense, he says:November is above averageDecember is average, that is, the conclusion is that I have already sold the things I always sell.“But he warned, “I am more or less in January. Less than $500 million This could impact currency flows in the first quarter of this year.
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