Overview

• Argentina's new forex regime has nearly erased the exchange-rate gap, stabilizing the market and increasing producer confidence.
• Soybean prices fell 7% in pesos but rose 11% in dollar terms, while wheat and maize saw similar peso-dollar price divergences.
• Daily soybean sales contracts surged by 50% last week, averaging over 250,000 tonnes, reflecting renewed market activity.
• Port soybean unloadings increased by 154% since April 15, consistently surpassing 100,000 tonnes daily and peaking at over 225,000 tonnes.
• The official dollar rate climbed from $1,073 to $1,165 per USD within seven business days of the reform, aligning with financial exchange rates.