Overview

• ARCA confirmed the USD 7 billion cap for grain registrations under Decree 682/2025 was reached and restored the prior export duty rates effective immediately.
• The presidential spokesman said beef and poultry exports retain zero duties with no registration cap until October 31.
• Exporters registered roughly USD 7 billion in grain and byproduct sales within 48–72 hours, with market estimates citing a 90% three‑day liquidation that could add about USD 5.5 billion through Monday.
• Treasury dollar purchases—about USD 85 million on Tuesday and a block near USD 300 million on Wednesday—coincided with a USD 317 million rise in BCRA gross reserves, which market participants attributed to those buys.
• Rural groups and opposition leaders criticized windfall gains for large traders, supermarket associations urged suppliers to roll back unjustified price hikes, and farm leaders warned 3.7–3.8 million tonnes were declared but not yet bought, risking lower prices to producers.