International soybean price above $600 not enough to lower country risk

This week the international price per ton of soybean reached $610. The agro-export complex has already liquidated $10 billion and expects to leave in the State’s coffers at least $2.6 billion in addition to the planned withholdings. However, this does not translate into an improvement in Argentina’s financial situation. The rise in soybean prices coincides with a new escalation of the country risk, the JP Morgan indicator that measures the excess rate that Argentina should pay for indebtedness increased 3.7% and reached 1606 essential points.

Source: Clarín