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Tag Archives: Argentina

#MEXICO BRACING FOR NAFTA COLLAPSE

Mexico is getting ready for the possibility that the U.S. will pull out of NAFTA by courting other trading partners. The country has put negotiations for new or updated trade deals with other countries on the fast track, with new suppliers like Argentina and Chile already sending products to Mexican stores. (New York Times)

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#SOYBEAN FUTURES HIT SIX-MONTH HIGH

A truckers’ strike in Brazil, flooding in Argentina and an influx of investment in commodity markets here all came together this week to send soybean futures to a six-month high. “There’s a significant amount of interest in the ag sector of the commodity market,” said trader Jim Bower, who added that he believes the soybean… read more

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ARGENTINA EXPORTS RISE

Argentina’s crop exports surged $2 billion in the last three weeks of 2015 after restrictions were scrapped by the new president, according to Bloomberg News.

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ARGENTINA UPDATE

Starting today, Argentines will have full access to U.S. dollars. The exchange rate will be allowed to float after years of strict central bank control, prompting what is expected to be a 30% devaluation of the peso. Soybean exports from there expected to rise sharply.

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ARGENTINA UPDATE

Argentina will announce later today a much anticipated relaxation of currency controls on Wednesday, the government said, setting the stage for a weakening of the local peso and an increase of soybean shipments from the world’s No. 3 exporter.

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EXPORT TAXES DROPPED

The new Argentine president today eliminated export taxes for grains, and lowered the rate on soybeans.  In the case of soybeans the rate will fall from 35% today to 30%, while for corn (20%), wheat (23%) and meat (9%) will be eliminated entirely.

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EXPORT TAXES

The new Argentine president will start off his new administration by eliminating the export taxes on corn and wheat. Mauricio Macri will also drop the soybean export tax rates by 5% a year until it is eliminated in seven years.

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ARGENTINA PROMISES

Argentina’s ruling party presidential candidate would quickly slash grains export taxes and gradually phase out other controls that hurt farm profits, one of his top advisers said on Wednesday, changes that would sharply break with current policy. Last week, the challenger who leads in the polls made a similar promise.

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WAITING OUT

Spot trading on Argentina’s main grains and oilseed market has slowed sharply as farmers hold on to their crops in the expectation this month’s presidential run-off vote will lead to a reduction in hefty export taxes.

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WATCH ARGENTINA’S ELECTION

Corn could get cheaper in December if Mauricio Macri is elected president of Argentina, Dr. Michael Cordonnier says. Macri promises to eliminate all export taxes on corn and wheat out of Argentina on day one.  Runoff election is scheduled for Nov. 22.

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