Chicago | Reuters — U.S. soybean futures slid to seven-week lows on Monday after weekend rains across major exporter Argentina reduced the likelihood that dry weather would curb yields. Wheat futures dropped to a one-month low and corn dropped to its lowest level in three weeks as losses in other markets, including equities and energy, […] Read more
Tag Archives argentina — page 38
U.S. grains: Soybeans set new 2016 low as rains hit dry Argentina
Argentine government to allow beef imports
Buenos Aires | Reuters –– Argentina will allow beef imports if the recent opening of the export market results in a domestic shortage of steaks and burgers, farm minister Ricardo Buryaile told local radio Thursday. The country lifted restrictions on beef exports after President Mauricio Macri, elected in November on an open-markets platform, was inaugurated […] Read more
Argentine corn sowing booms on optimism over new government
Buenos Aires | Reuters — A late-season corn planting flurry in No. 4 world exporter Argentina could push output to the same level as the previous crop year, thanks to the policies of the new government, the director of the local maize industry chamber said Friday. Growers across the Pampas farm belt applauded the November […] Read more
Cargill’s Q2 profit drops amid commodities slump
Chicago | Reuters –– Slumping commodities prices and weak demand in some markets took their toll on profits for global commodities trader Cargill in the quarter ending Nov. 30, sending earnings and revenue down 13 per cent and 10 per cent, respectively. Privately held Cargill, celebrating its 150th birthday this year, is in the midst […] Read more
Argentine soy sales after tax cut disappoint government
Buenos Aires | Reuters — Argentina’s centre-right government said Monday it was disappointed by the volume of soy stocks sold by farmers in the three weeks since it reduced the tax on soybean exports. President Mauricio Macri cut the tax on shipments of soybeans, the country’s main cash crop, from 35 per cent to 30 […] Read more
U.S. grains: Rain in Brazil’s forecasts dampens soy futures
Chicago | Reuters — U.S. soybean futures touched a one-week low on Thursday as expectations for beneficial rains in top exporter Brazil overshadowed stronger-than-expected U.S. export sales. Concerns about large U.S. supplies and poor export demand pushed March corn to settle at a new contract low, while wheat futures reached a three-week low. Traders kept […] Read more
Devalued Argentine peso seen spurring grain exports
Buenos Aires | Reuters — The currency devaluation set to kick off in Argentina on Thursday is expected to pump millions of tonnes of pent-up grains supply into the international market at a time when the world is already seeing record stockpiles. For the first time since 2011, Argentines have full access to U.S. dollars […] Read more
Argentina’s Macri ditches wheat, corn, beef export taxes
Buenos Aires | Reuters –– Argentine President Mauricio Macri said he would sign a decree on Monday eliminating corn and wheat export taxes as part of his plan to revitalize the country’s massive farm sector after years of antagonism with the government. The decree will also cut the export tax on soybeans, the country’s main […] Read more
CBOT weekly outlook: Soy, corn hold in trading range
CNS Canada — Supply and demand estimates from the U.S. Department of Agriculture held few surprises and had only limited effects on Chicago Board of Trade corn and soybeans — both rangebound in the short term, according to one U.S.-based analyst. “That report was pretty non-eventful right now,” said Scott Capinegro of Barrington Commodity Brokers. […] Read more
Argentina ag minister says grain export taxes on way out
Buenos Aires | Reuters –– Argentina’s incoming government will abolish export taxes on corn and wheat the day after it assumes office and reduce the export tax on soy by five per cent, designated Agriculture Minister Ricardo Buryaile confirmed to the daily Clarin. President-elect Mauricio Macri won the election last Sunday on a platform of […] Read more
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