The price of a ton of soybeans has plummeted 300 USD and is at the lowest level of the last 11 years

Given the uncertainty generated by the negotiations between the United States and China in the search for a solution to the trade war, this day, the future of the major grains experienced a sharp decline in the international market in Chicago.

Soybeans were the most affected by the victims. Its price dropped by nearly $ 7 and quoted at $ 293.54 per ton, the lowest price of the last 11 years. The impending entry into force of the increase of 10 to 25% of the import duties of products originating in China for about 200 billion dollars caused the collapse of the prices of the l 39; ; oilseeds.

His weak also moved to the local market. At the Rosario Stock Exchange, with few companies in the soybean sector, the open offer for soybeans was $ 205 per tonne. for immediate download, they are $ 5 less than in the day of Wednesday.

On the other hand, maize retains its leading role and withstands the decline of the international market, with stable prices. In Rosario, immediate-relief cereals were estimated at 5,800 pesos per ton, and delivery operations on May 13 had cost 6,000 pesos per ton.

Also on the wheels of the last days on the local market, there is a reactivation in the values ​​of wheat, the hand of greater interest by the new crop, and where the exporters currently offered $ 180 per ton, and the mills for contract delivery paid 8,600 pesos per ton , a value very similar to that soybean records.

These declines in the international market, mainly in soybeans, are not good news for local producers who are on track to make a historic crop.

The Bolsa de Comercio de Rosario presented its latest estimates of soybean and corn production in the last few hours. In soy, the estimate has been increased by 1 million tons, thanks to the harvest results of Córdoba, and currently stands at 57 million tons. On the other side, worsening of the situation in the Chaco because of floods.

And in maize, with harvested yields higher than expected at the beginning of the season, a total national production of 48 500 000 tonnes is projected.

The excellent yields harvested in many parts of our country would offset the decline in international pricesbut the picture is complicated in the remote production areas of the ports, where the high tax burden and high costs will affect the profitability of producers and the government's foreign exchange earnings.

This week, how will this situation affect our country from falling international prices, the economist Salvador Di Stefano He commented: "Unfortunately, when the world sneezes, Argentina catches the flu. Problems on a global scale have twice the impact in our country than in neighboring economies.. Commodity prices are reaching very low levels and it is not profitable to plant for 2020. This can only save us the fact that the climate continues to be unfavorable to American farmers and that our country is returning to record harvest. With normal yields and current prices, we are really in trouble. "