GFM Network News

El Nino seen pushing Argentina into planting more soy, less corn

Reading Time: 3 minutes Buenos Aires | Reuters — The El Nino weather phenomenon is expected to start dumping torrential rains on Argentina next month, pushing farmers to plant more low-cost soy and less corn despite concern over lack of crop rotation in one of the world’s main food suppliers. Argentina, the No. 1 exporter of soymeal livestock feed […] Read more

Farmers in soy powerhouse Argentina start five-day sales strike

Reading Time: 2 minutes 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

Argentine soy stocks double as farmer-government tensions rise

Reading Time: 2 minutes Buenos Aires | Reuters –– Argentine farmers have stockpiled more than twice as much soy this year than last, defying a government desperate to increase export tax revenue needed to finance rising state spending ahead of the October presidential election. Growers say the increase in soybean reserves, to 7.4 million tonnes from 3.4 million, comes […] Read more

Argentina’s ‘Soy King’ abdicates in favor of biotech

Reading Time: 2 minutes Buenos Aires | Reuters –– The company that led the breakneck expansion of Argentine soy cultivation over the last two decades has quietly reduced the area it farms by more than half as inflation, trade restrictions and high taxes drain growers’ profits. Los Grobo, once known as the South American country’s “King of Soy” has […] Read more

Argentina denounces farmer soy hoarding, says hurts state income

Reading Time: 2 minutes Buenos Aires | Reuters — Argentine growers hoarding soybeans to protect themselves from inflation are hurting both state and farm income in the world’s No. 3 exporter of the oilseed, a top government official said Thursday. The South American country pioneered the use of plastic horizontal silos to stockpile grains. Growers are hanging onto soybeans, […] Read more

Argentine peso hits new lows as food price controls take effect

Reading Time: 3 minutes Argentina’s peso slid to an all-time low on Tuesday as supermarkets implemented food price freezes in an agreement with the government aimed at protecting poor families from one of the world’s highest inflation rates. The year-long price deal on 200 basic food products, agreed to last week and implemented Monday, signals a deepening of President […] Read more

Argentina’s farmers hoard soybeans as inflation hedge

Reading Time: 3 minutes Argentine farmers are hoarding more soy this season than in past years, threatening to reduce much-needed export tax revenue as raw beans become the preferred unit of savings in an economy impaired by double-digit inflation. The South American farming powerhouse is the world’s No. 3 exporter of the oilseed at a time of increasing global […] Read more

Strike stalls scores of grain ships in Argentina

Reading Time: 2 minutes Scores of grain ships were delayed in and around Argentina on Wednesday due to a three-day-old strike by port workers that threatens to bog down exports at a time of heightened world demand for South American soy and corn, sources said. Negotiations aimed at ending the work stoppage in the main grains hub of Rosario […] Read more