# Argentine farmers, facing peso uncertainty, hoard soya despite high prices - Markets - Business Recorder

> Argentine farmers are holding back soybeans despite high prices to hedge against the weakening peso, which fell 29.6% over 12 months to 92.4 per dollar. Only 31% of the 2020/21 crop had been sold as of March 31, versus 37% a year earlier.

- Date: 2021-04-11 · published 2021-04-11T12:00:00.000Z
- Category: macro · region Argentina · magnitude medium
- Page: https://feedsoft.ai/events/47430-argentine-farmers-facing-peso-uncertainty-hoard-soya-despite-high-prices
- Commodities: [Soybean Meal](https://feedsoft.ai/c/SBM.md), [Soybeans](https://feedsoft.ai/c/SOY.md), [Argentine Peso (ARS per USD)](https://feedsoft.ai/c/USDARS.md)

## Why it matters

Slow farmer selling reduces Argentine export supply of soymeal and oil, which supports world meal prices. Currency volatility is a key factor behind the holding.

## Read by commodity

- SBM: bullish ▲
- SOY: bullish ▲
- USDARS: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SBM | 2023-04-20 | [Argentine peso hits record low in black market as economy creaks](https://feedsoft.ai/events/36672-argentine-peso-hits-record-low-in-black-market-as-economy-creaks.md) | -5.0% | -6.4% |
| SBM | 2023-11-20 | [Argentina's black market currency traders brace for uncertainty](https://feedsoft.ai/events/33457-argentina-s-black-market-currency-traders-brace-for-uncertainty.md) | +1.1% | -8.0% |
| SBM | 2019-08-12 | [Argentina farmers digest primary election shock, wait to export despite weaker peso](https://feedsoft.ai/events/57427-argentina-farmers-digest-primary-election-shock-wait-to-export-despite-weaker.md) | -0.6% | -2.8% |
| SBM | 2022-07-15 | [Runaway price hikes has soy farmers hoarding all they can \| Buenos Aires Times](https://feedsoft.ai/events/14022-runaway-price-hikes-has-soy-farmers-hoarding-all-they-can-buenos-aires-times.md) | -10.3% | +4.6% |
| SBM | 2018-05-16 | [‘Start selling so dollars come in,’ Argentine soybean farmers are told](https://feedsoft.ai/events/64865-start-selling-so-dollars-come-in-argentine-soybean-farmers-are-told.md) | -1.3% | -9.1% |
| SOY | 2025-10-28 | [Yuan hits 1-year high on upbeat stocks, trade deal hopes - Markets - Business Recorder](https://feedsoft.ai/events/22633-yuan-hits-1-year-high-on-upbeat-stocks-trade-deal-hopes-markets-business.md) | +4.9% | +5.2% |
| SOY | 2025-10-27 | [China’s yuan jumps to one-month high on positive trade developments with US - Markets - Business Recorder](https://feedsoft.ai/events/22626-china-s-yuan-jumps-to-one-month-high-on-positive-trade-developments-with-us.md) | +5.6% | +8.0% |
| SOY | 2019-08-12 | [Argentina farmers digest primary election shock, wait to export despite weaker peso](https://feedsoft.ai/events/57427-argentina-farmers-digest-primary-election-shock-wait-to-export-despite-weaker.md) | -0.7% | -3.3% |

## Sources

- brecorder.com: https://www.brecorder.com/news/40083098

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.