echemi logo
Product
  • Product
  • Supplier
  • Inquiry
    Home > Food News > Food Articles > As of November 3, Argentine farmers have sold 33.6 million tons of 2020/21 soybeans

    As of November 3, Argentine farmers have sold 33.6 million tons of 2020/21 soybeans

    • Last Update: 2021-12-02
    • Source: Internet
    • Author: User
    Search more information of high quality chemicals, good prices and reliable suppliers, visit www.echemi.com
    Foreign media news on November 10: According to a report released by the Argentine Ministry of Agriculture , as of November 3, Argentine farmers have sold 33.
    6 million tons of 2020/21 soybeans , an increase of 500,000 tons from a week ago, but compared to the same period last year This is 3.
    4% lower
    .
     
    According to the Argentine Ministry of Agriculture, the pace of soybean sales lags behind the same period last year, when the sales volume was 34.
    8 million tons
    .
     
    In addition, farmers also pre-sold 2.
    9 million tons of soybeans for the year of 2021/22, an increase of 300,000 tons from a week ago
    .
     
    According to the forecast of the Buenos Aires Grain Exchange, Argentina’s soybean production this year is 43.
    1 million tons, which is lower than the 49 million tons in 2019/20
    .
    Soybean production in 2021/22 will reach 44 million tons
    .
     
      Despite high international prices, Argentine farmers are still reluctant to sell soybeans, using soybeans as a hard currency against the weakening of the peso
    .
    The Argentine peso exchange rate was 100.
    06 pesos to 1 U.
    S.
    dollar, down 18.
    3% from 84.
    61 pesos to 1 U.
    S.
    dollar at the end of last year
    .
    As Argentine farmers get income from soybeans in pesos, the depreciation of the pesos means that it is more cost-effective to hold soybeans than to hold pesos
    .
    Department of Agriculture Soybeans
     
      According to the Argentine Ministry of Agriculture, the pace of soybean sales lags behind the same period last year, when the sales volume was 34.
    8 million tons
    .
     
      In addition, farmers also pre-sold 2.
    9 million tons of soybeans for the year of 2021/22, an increase of 300,000 tons from a week ago
    .
     
      According to the forecast of the Buenos Aires Grain Exchange, Argentina’s soybean production this year is 43.
    1 million tons, which is lower than the 49 million tons in 2019/20
    .
    Soybean production in 2021/22 will reach 44 million tons
    .
     
      Despite high international prices, Argentine farmers are still reluctant to sell soybeans, using soybeans as a hard currency against the weakening of the peso
    .
    The Argentine peso exchange rate was 100.
    06 pesos to 1 U.
    S.
    dollar, down 18.
    3% from 84.
    61 pesos to 1 U.
    S.
    dollar at the end of last year
    .
    As Argentine farmers get income from soybeans in pesos, the depreciation of the pesos means that it is more cost-effective to hold soybeans than to hold pesos
    .
    This article is an English version of an article which is originally in the Chinese language on echemi.com and is provided for information purposes only. This website makes no representation or warranty of any kind, either expressed or implied, as to the accuracy, completeness ownership or reliability of the article or any translations thereof. If you have any concerns or complaints relating to the article, please send an email, providing a detailed description of the concern or complaint, to service@echemi.com. A staff member will contact you within 5 working days. Once verified, infringing content will be removed immediately.

    Contact Us

    The source of this page with content of products and services is from Internet, which doesn't represent ECHEMI's opinion. If you have any queries, please write to service@echemi.com. It will be replied within 5 days.

    Moreover, if you find any instances of plagiarism from the page, please send email to service@echemi.com with relevant evidence.