2021 Campaign driven by strong recovery in commodity prices offset by weather conditions that partially affected expected yields.
MAIN EVENTS
Bolivia farmland sale to Brasilagro for
USD 31 million.
Subscription in Brasilagro capital increase (BRL 440 mm) increasing stake from 33,8% to 34,1% (net of treasury shares).
CRESUD Capital increase of 90 million shares for USD 42.5 million & subsequent IRSA Capital increase of 80 million shares for USD 28.8 million.
2
FARMING: COMMODITY PRICES AND GLOBAL STOCKS
Soybean & Corn prices (CBOT)
700
600
608
+87%
500
(since Jun 30, 2020)
400
298 +124%
FOB SOYBEAN PRICE
US, BRAZIL & ARGENTINA
630
580
530
480
430
300
200
100
(since Jun 30, 2020)
380
330
nov/2018
feb/2019
may/2019
ago/2019
nov/2019
feb/2020
may/2020
ago/2020
nov/2020
feb/2021
may/2021
Maíz CBOT disponible en US$/tt
Soja CBOT disponible en US$/tt
280
FOB EEUU Golfo 362
FOB Brasil 371
FOB Argentina 343
Soybean: US & the World Stock / Consumption ratio
35%
30%
EE.UU
Mundo
Prom Mundo
Prom EEUU
25%
23,5%
20%
15%
10%
9%
5%
0%
02/03
20/21 ant
93/94
94/95
95/96
96/97
97/98
98/99
99/00
00/01
01/02
03/04
04/05
05/06
06/07
07/08
08/09
09/10
10/11
11/12
12/13
14/15
16/17
18/19
20/21 Act.
Corn: US & the World Stock / Consumption ratio
35%
S/C EE.UU
S/C Mundo
Prom EEUU
Prom Mundo
30%
25%
24,6%
20%
15%
10%
9,2%
5%
0%
02/03
19/20
20/21Ant
20/21Act
93/94
94/95
95/96
96/97
97/98
98/99 99/00 00/01
01/02
03/04 04/05 05/06 06/07
07/08
08/09
09/10 10/11 11/12 12/13
13/14
14/15
15/16 16/17 17/18 18/19
3
FARMING ACTIVITY: 2021 CAMPAIGN PROGRESS
CROP BREAKDOWN
(FY 21E)
13%
10%
48%
24%
82
49
REGIONAL WEATHER CONDITIONS
GRAINS REGIONAL PROGRESS
As of April 2021
As of May 2021
SOYBEAN 77% HARVESTED
CORN 12% HARVESTED
Soybean
Corn
WHEAT 100% HARVESTED
Sugarcane
Others
2021 CAMPAIGN IN
SIMILAR LEVELS THAN 2020
248
264
259
10
11
Paraguay
14
212
213
13
Bolivia
202
205
200
199
183
179
101
105
Brazil
142
141
139
Argentina
129
FY 07
FY 08
FY 09
FY 10
FY 11
FY 12
FY 13
FY 14
FY 15
FY 16
FY 17
FY 18
FY 19
FY 20
FY 21
4
GOOD FARMING PROSPECTS FOR 2021 CAMPAIGN
CROP PRODUCTION
Th. tn
Argentina
Brazil
Bolivia
Paraguay
+3%
812
828
852
29 24
12
24 13
24
203
310
298
557
482
518
FY19
FY20
FY21E
SUGARCANE PRODUCTION
Tn/ha
Brazil
Bolivia
-7%
2.150
2.411
2.248
172
132
146
2.004
2.239
2.117
FY19
FY20
FY21E
CROP YIELDS
Tn/ha
6,60
6,28
6,21
2,86
2,70
2,75
Soybean
Corn
FY19
FY20
FY21E
MEAT PRODUCTION
Th. Tn & Th units
99
76
62
74
9
5
9,194
1,966
11,173
11,783
7,227
FY19
FY20
FY21E
5
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Cresud S.A.C.I.F. y A. published this content on 13 May 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 13 May 2021 18:59:00 UTC.
Cresud SACIF y A is an Argentina-based company engaged mainly in telecommunications sector. Through its subsidiaries, it operates two segments: Agricultural Business and Urban Properties and Investment Business, which is divided into: Operations Center Argentina and Operations Center Israel. Agricultural Business focuses on acquiring, developing and exploiting agricultural properties. It is involved in farming activities, cattle raising, leasing land to third parties and perform agency and agro-industrial services, including a meat packing plant. Operations Center Argentina is engaged in the development, acquisition and operation of shopping malls, offices and hotels, among others, in Argentina, and owns selective investments outside Argentina. Operations Center Israel includes real estate activities in Israel and abroad, supermarket chain management and telecommunications services, both locally, as well as is engaged in the insurance, pension and provident funds, among others.
CRESUD SOCIEDAD ANÓNIMA, COMERCIAL, INMOBILIARIA, FINANCIERA Y AGROPECUARIA 
