(Photo. The graph shows how corn sales declining in the latest days of December)

Buenos Aires, December 30, 2019. After the new Government took office, December 10, farmers dramatically slowed their grain sales. The weekly RIA Consultores report shows this Monday that the volume of wheat, corn, and soybean sales from December 10 to December 27 dropped between 73 to 75% in comparison with the twelve days prior to December 10.

Sales of soybean dropped 75% from 429K tons between November 22 to December 9 to 106K tons after December 10. Meanwhile, wheat sales went down from 3.02 MMT to 808K tons, and corn sales from 1.26 MMT to 340K tons, i.e., 73% less.

In view of the change in the political ruling of the country, farmers accelerated their grains sales from August 22, when the Peronist party won the primaries, to December 9, the day before the Alberto Fernandez took office. The high chance of an increase in the export taxes impulsed farmers to accelerate their sales.

This could be troubling from the new government because fewer grain sales imply fewer dollars for a starving economy.

The RIA Consultores report also compares grain sales from 10-D to 27-D this year with the same period in 2018. In this case, it is registered a drop too, 65% in the case of corn, 43% for soybean and 28% for wheat.