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Tag Archives: Global Markets

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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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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TPP UPDATE

USDA’s Foreign Agricultural Service has issued commodity-by-commodity fact sheets outlining the reductions in tariffs and increases in import quotas negotiated under the Trans-Pacific Partnership. Check out Illinois’ numbers.

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TPP PUSH

President Obama launched his push for approval of the Trans-Pacific Partnership Tuesday with a one-hour, closed-door meeting with leaders of agriculture and other business sectors that will be critical to the coming congressional debate. Details at FarmWeekNow.com.

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TPP A BIG DEAL

The intense, final hours of negotiations to conclude the Trans-Pacific Partnership trade deal came down to disputes over milk imports, drug patents and origin of car parts. But the seven-year-long effort by the U.S. was always about something bigger: embedding an American-led vision of an economic and political order in Asia. The 12-nation accord is… read more

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TPP REACTION

“Trade is important to Illinois farmers and agriculture, and Illinois agriculture will certainly benefit from this agreement, as TPP partners purchase 42 percent of all U.S. agriculture exports,” said IFB President Richard Guebert, Jr. in a statement issued Monday on the TPP deal. “We look forward to reviewing the agreement in greater detail. In the meantime,… read more

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BRAZIL TRUCKS

A widespread work stoppage by Brazilian truckers continues roiling global soybean markets, boosting prices that had been deflated for months.

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RISING BEEF PRODUCER

 Paraguay is now the world’s eighth top beef exporter, according to US government figures, ahead of meat superpowers such as Argentina (11th), but their aim is to be number five by 2020 and to have 20 million head of cattle available in that year alone.

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