The satellite will have three strategic applications: fertilizaron, fusarium (a disease that affects wheat) and early flood warnings. It will yield benefits of between 4.5 and 6.5 billion pesos ($61 to 88 mn) annually. Eight hundred Argentine scientists. More than ten years of development, and $600 million invested in one of the most ambitious projects in Latin American satellite history. SAOCOM 1B (Argentine Microwave Observation System) was sent into space to become the eyes of the Argentines in the sky. It will be in charge of observing the earth and scanning it.
The BCRA is one step away from losing, via the net sale of foreign exchange to the private sector, one billion of the available reserves this month. July's Exchange Balance, known last Friday, showed the purchase of bills to treasure for $716 million.
Genneia, the renewable energy generation company, closed a new $26 million bond issue. The figure was above the initial target of $20 million and is in addition to the placement made three months ago, so the financing is already over $54 million.
The soybean accumulated a rise above 5.2%, its highest weekly increase since May 2019. It, amid forecasts of dry weather in the U.S. Midwest, which threatens to hamper the harvest in its final stages of development. Corn futures closed higher, ignoring initial weakness, due to strong export demand, while wheat futures fell in a profit-taking round at the end of the week.
In recent days, images of fires throughout the country have affected the collective sensibility of an environmental catastrophe. It is not a temporary situation, but the consequence of a long process whose causes (economic, climatic, political, social) has led to the deforestation of 6.5 million hectares in the last two decades. Argentina is one of the ten countries with the most significant net loss of forests. According to satellite monitoring by Greenpeace, 21,275 hectares of native forests deforested between March 15 and June 30, 2020. In the case of Cordoba, more than 14,000 hectares were affected by the impact of fire - 95% intentionally - and the vast majority were the result of burning to expand agricultural and livestock activity and monoculture.