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
Argentina’s Macri ditches wheat, corn, beef export taxes
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
CBOT weekly outlook: Corn, soy seek direction
CNS Canada — Soybean and corn futures at the Chicago Board of Trade moved higher during the week ended Wednesday, but both commodities remain rangebound overall and looking for an outside spark to push values significantly one way or the other. January soybeans moved above their 20-day moving average on Wednesday, which triggered some additional […] Read more
Argentina halts Europe-bound rice ‘impregnated with cocaine’
Buenos Aires | Reuters — Argentine customs agents found about 30 kg of cocaine hidden in a way they had never seen before when drug-sniffing dogs found the drug had been absorbed into grains of rice headed for Europe via Africa, an official said on Wednesday. The bust underscores the role Argentina has come to […] Read more
Farmers in soy powerhouse Argentina start five-day sales strike
Buenos Aires | Reuters — Argentine farmers started a five-day crop sales strike on Monday, part of an election-year push in the world’s No. 3 soybean exporter to change policies that they say have killed profits under outgoing President Cristina Fernandez. The country is the biggest international supplier of soybean livestock feed, which has helped […] Read more
USDA takes first step to import fresh beef from Brazil, Argentina
Chicago | Reuters — The U.S. Department of Agriculture’s Animal and Plant Health Inspection Service (APHIS) is amending its regulations to allow fresh beef into the U.S. from Brazil and Argentina under specific conditions that mitigate risk of foot-and-mouth disease (FMD), the agency said Monday. “This is the first step of a process for these […] Read more
U.S. grains: Soybeans hit six-week high on weather jitters
Chicago | Reuters — U.S. soybean futures climbed to a six-week high on Monday on concerns about tightening old-crop supplies and excessive rains trimming new-crop yield prospects, traders said. Wheat and corn also rose. At the Chicago Board of Trade, the July soybean contract settled up 18 cents at $9.89-1/2 per bushel after reaching $9.90, […] Read more
CBOT weekly outlook: Soybeans to break below US$9 before summer half over
CNS Canada –– The Chicago Board of Trade (CBOT) soybean market showed some short-covering-related firmness during the week ended Wednesday, but the bias is still pointed lower for the oilseed. “We could actually see the beans trade down to the low $9, then to an $8 handle. Maybe $8.90 would be my initial target for […] Read more
Argentine farmers say Monsanto soy contract breaks local law
Buenos Aires | Reuters — Argentine farm groups on Wednesday asked soy export companies to stop inspecting cargoes for bootlegged biotechnology at the behest of U.S. seed company Monsanto, the latest move in a long conflict between the country’s farmers and Monsanto. Growers in Argentina, the world’s top exporter of soymeal livestock feed, have signed […] Read more
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