The volume traded on the Matba Rofex of futures and options on soybeans, corn and wheat, reached the highest record in history last August. According to the details, 4,712,200 tons were traded, registering an increase of 4% year-on-year. In the case of corn, 1.7 million tons were marketed, which meant an increase of 44% compared to 2019.
In relation to corn, last month was also a record in terms of exports. Data from the Rosario Stock Exchange reflected that 4.63 million tons were sold abroad and a total of 25.4 million tons was already reached for the 2019-2020 campaign. All this means an increase of 13% in relation to the previous season and almost 90% above that obtained in the 2017/18 cycle, when severe weather conditions seriously affected the yields obtained by the crop.
Marcos Hermansson, vice president of Matba Rofex, explained that last month’s surgery numbers were “emblematic”. In this regard, he commented: “This was beneficial, not only for the market, since we seek that these mechanisms and tools for the sale of grains in the future continue to be imposed within a context of great need to be able to cover all the uncertainty of a market in the situation in which we have to live”.
Matba Rofex, together with the participants of the grain chain, are working on the development of a new negotiable value from operations of purchase and sale of grain “to fix price” allowing, at the request of the parties, their registration, guarantee and integration with the Capital Market. The proposal, which interested the wheat chain, is also evaluated by those who operate with corn and soybeans.
“Unlike the conventional operation, this tool will allow to deliver the merchandise to the buyer and then through future contracts define the operations with the specifications established by the parties, which will enable both the buyer and the seller to make the decision to buy and sell when they determine it”. said Hermansson.
In this type of operation, according to the manager, the seller delivers grain to the buyer, pending the setting of the price and settlement of the value of the grain for a later date. In a contract to be set, the setting of the price is at the discretion of the seller, who can set the price in whole or in part, within a period of time after the delivery of the beans. To fix the price, futures operations must be carried out at Matba Rofex. In Argentina, it is estimated that between 20% and 40% of the harvest is marketed with this modality.