BRAZIL MAKES ATYPICAL SOY SALES TO ARGENTINA

Brazil made unusual soybean sales to Argentina, as the Argentines deal with low inventories during the off-season, when strong business reduced available supply in the neighboring country. According to AgRural analyst Fernando Muraro, agreements to ship Brazilian soybeans to Argentina, the world’s largest exporter of soybean meal, total between 200,000 and 300,000 tons for delivery in February and March. “When soybean meal prices are very high and the crushing margins increase, this type of operation is permitted,” he explained, recalling that the Argentines are in the “peak” of the off-season. Brazil, on the other hand, begins harvesting earlier, and work should pick up in the middle of this month.

Source: Revista Globo Rural (*Translated by Ia Niani)