Day: May 13, 2020

YPF reported profits of $6351 million in Q1

Before the coronavirus crisis hit fuel consumption, YPF reported profits in the first quarter of the year of $6351 million, according to the statement filed yesterday with the National Securities Commission. The impact of mandatory insulation, which involved a collapse in sales of up to 80% on naphthas, 50% on diesel and 90% jet fuel, will be reflected from the second quarter balance sheet.

USDA low estimate harvest argentina soybeans at 51 mn T

Argentina’s 2019/20 soybean harvest would be 51 million tonnes, from the estimated 52 million previously, while production in the upcoming 2020/21 campaign would reach 53.5 million tonnes, the U.S. Department of Agriculture(USDA) said Tuesday. The USDA estimated wheat 2020/21harvest at 21 million tonnes. It is the first estimate the body makes for new wheat. Forecasts that maize crops for the current 2019/20 cycle and the next 2020/21 campaign will be 50 million tonnes.

Prices of corn fell to $118/t

The maize market concentrated the most significant number of active buyers on the market, on a day with less commercial activity in general. For the cereal with immediate delivery and contractual condition, the offer fell to $118/t, seven dollars below the best offer of the previous day. The soybean market kept the line of yesterday’s day, concentrating a good number of buyers, with the best purchase offer by the industry at $215/t. For wheat with immediate delivery, the proposal was $175/t, although without ruling out improvements. The best open offer to buy by sunflower was located at $245/t for the oilseed with immediate delivery, the same value as on the Friday wheel.

Argentine stock market earns 1.43% to 39,133.71 points

The leading Merval indicator of the Buenos Aires Stock Exchange won 1.43% on Tuesday and closed at 39,133.71 points, in a market that more optimistically expects an Argentinasettlement with groups of creditors for a debt swap. The volume traded in stock reached 2,140.1 million pesos ($30.5 million at the turn of the day).