In the last year, record harvests have been recorded worldwide for the three crops covered in this report: soybeans , wheat , and corn ; and this has been mainly driven by excellent weather conditions.

At the same time, the demand - direct or indirect - for these, whether for human consumption or for other productive activities, such as livestock farming or the production of biofuels ; is not enough to absorb the abundant flow of production recorded.

The combination of these two phenomena has created a scenario where one of the most famous paradoxes in economics is fulfilled: the paradox of the abundant harvest.

The surpluses from this season, which are added to the already existing –and abundant– stocks from previous productions, have impacted a drop in international prices for each crop, compromising the profitability of the sector.

Likewise, there are other factors that pull in the same direction and, therefore, reinforce the fall in prices received by local producers.

The monetary policy implemented by the central banks of the world's major economies has resulted in the dollar strengthening against other currencies.

Added to this context is the debt buyback program launched by the European Union , which began in March of this year, not without tensions within the countries of the euro area.

In the case of Argentina , the increase in wheat, corn and soybean production is explained solely by an improvement in yields , given that the planted area would have remained relatively constant in this season.

The combined consequences of the factors affecting our economy are resulting in a loss of profitability for agricultural producers.

Although the January 2014 devaluation provided some relief, its effect has already been liquefied due to the increase in internal costs.

In this way, the loss of competitiveness and lower yields have led to negative margins - with average yields - for corn and wheat producers in leased fields.

Given the significant decrease in the internal price, the profitability in the case of this last crop can become negative even in plantations with their own fields.

The repercussions of this situation are also felt upstream , with diverse effects on the value chain of Santa Fe's agribusiness. On the one hand, the milling industry will benefit from the high availability of soybeans.

It will boost activity during 2015, and, given the stocks accumulated in recent years, next year would also present a positive scenario, even in the face of a possible fall in the harvest.

Unfortunately, the same does not apply to biodiesel producers in the province , who will continue to be greatly affected by the collapse in international crude oil prices.

In the current scenario, with depressed oil prices , a substitution effect occurs, where it is cheaper to use diesel than to establish any blend with biodiesel.

In this way, only those countries in which, as a rule, they must represent a minimum percentage of gasoline or diesel oil will resort to biofuels.