Unnamed Investor's questions to AGRO3.SA leadership • Q2 2025
Question
An investor asked whether the company's hedge policy restricted it from selling more soy when the dollar was high, or if it was a strategic decision.
Answer
Executive Gustavo Lopez clarified that the company's policy is to reduce risk, not speculate. At the dollar's peak, the Chicago price for soy was low, making the combined price unattractive. Instead, the company focused on locking in physical positions and cheaper logistics. He asserted that the current combination of a lower dollar, higher Chicago price, and better premiums is equivalent to the price they would have gotten at the dollar's peak.