Overview

• Official data show exporters declared 19.6 million tonnes valued at about US$7.0126 billion during the window, which shut after two business days, with the soybean complex contributing 71% of volume and 80% of value.
• The Rosario Board of Trade reported record activity, including more than 2 million tonnes priced in a single day and sharp moves in futures that spiked on the decree and then eased but stayed above prior levels.
• Reporting indicates producers captured only a partial price uplift of roughly 15% on average while multinationals such as Dreyfus, Cargill, Bunge, Aceitera General Deheza, COFCO, Molinos and Viterra secured most of the benefit.
• The BCR estimates about US$4.933 billion in export sales still need to be recorded for the season and identifies 35.1 million tonnes of domestic grain with prices pending, theoretically valued at US$8.927 billion.
• Sector leaders are pressing for clear and durable rules, critics like Senator Martín Lousteau argue the move carried a very high short-term dollar cost, and Congressman Rodrigo De Loredo highlighted legal requirements to prove grain holdings when declaring exports.