XM does not provide services to residents of the United States of America.

Argentina farmers speed up stalled soy sales on better weather, price

<html xmlns="http://www.w3.org/1999/xhtml"><head><title>Argentina farmers speed up stalled soy sales on better weather, price</title></head><body>

By Maximilian Heath

BUENOS AIRES, May 29 (Reuters) -Argentina farmers are speeding up badly delayed sales of soy beans, the latest government data shows, helped by higher global prices and better weather conditions for the ongoing harvest.

Recorded soy sales from the South American nation, one of the top exporters of soy oil and meal, hit 4.2 million metric tons in the first three weeks of May, the government data show, as drier weather helped spur the harvest.

That's already above the full months of April of March when 2.8 million tons and 3.5 million tons of soy were sold respectively. Argentina's soy sales are, however, still running at the slowest pace in nearly a decade.

The May sales, which include agreements up until May 22, take total sales from the current 2023/24 crop to around 36.7% of the expected 49.7 million ton harvest.

Soy prices have also risen in recent weeks, with July futures on the local MATBA-ROFEX index at around $325 per ton on Wednesday, well above the $290 per ton range in March and April.

Argentina: slow soy sales https://reut.rs/3UP6rHs

Argentina: slow soy sales (Interactive graphic) https://reut.rs/3V46Yqn

Reporting by Maximilian Heath; Writing by Adam Jourdan;
Editing by Alistair Bell


Disclaimer: The XM Group entities provide execution-only service and access to our Online Trading Facility, permitting a person to view and/or use the content available on or via the website, is not intended to change or expand on this, nor does it change or expand on this. Such access and use are always subject to: (i) Terms and Conditions; (ii) Risk Warnings; and (iii) Full Disclaimer. Such content is therefore provided as no more than general information. Particularly, please be aware that the contents of our Online Trading Facility are neither a solicitation, nor an offer to enter any transactions on the financial markets. Trading on any financial market involves a significant level of risk to your capital.

All material published on our Online Trading Facility is intended for educational/informational purposes only, and does not contain – nor should it be considered as containing – financial, investment tax or trading advice and recommendations; or a record of our trading prices; or an offer of, or solicitation for, a transaction in any financial instruments; or unsolicited financial promotions to you.

Any third-party content, as well as content prepared by XM, such as: opinions, news, research, analyses, prices and other information or links to third-party sites contained on this website are provided on an “as-is” basis, as general market commentary, and do not constitute investment advice. To the extent that any content is construed as investment research, you must note and accept that the content was not intended to and has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such, it would be considered as marketing communication under the relevant laws and regulations. Please ensure that you have read and understood our Notification on Non-Independent Investment. Research and Risk Warning concerning the foregoing information, which can be accessed here.

Risk Warning: Your capital is at risk. Leveraged products may not be suitable for everyone. Please consider our Risk Disclosure.