As the likelihood of tariffs loom over United States soybean, corn and wheat exports, that trio of commodities has been facing their share of pros and cons, said analyst Tom Lilja of Progressive Ag in Fargo, N.D.
Argentina's Buenos Aires grains exchange said on Thursday that soybean planting had progressed very smoothly over the past week, following abundant rainfall across key parts of the major grains supplier's agricultural heartlands.
Argentina's beef exports during the first nine months of this year rose to their highest level in 57 years, as shipments of one of the South American country's best-known food staples grew among buyers in the United States and neighboring Chile.
Argentina's current wheat crop benefited from significant rainfall that fell over southern parts of the country's agricultural area at the weekend, the Rosario Grains Exchange (BCR) said in a report on Monday.
Things have been greatly improving for Brazilian soybean and corn crops, while the jury is still out for Argentina, said Michael Cordonnier of Soybean and Corn Advisor Inc. in Hinsdale, Ill.
Argentina's President Javier Milei saw his popularity ratings rebound sharply in October, a poll on Monday showed, bolstering the libertarian whose pro-market reforms have driven markets to record highs since winning a shock election last year.
As wheat production in Argentina is projected to increase in 2024/25, according to the United States Department of Agriculture attaché in Buenos Aires, the country’s corn output is to be smaller than in the previous year.
World wheat inventories have fallen from record highs five years ago, U.S. data shows, as poor weather hurt output and Russia's 2022 invasion of Ukraine temporarily spiked grain prices.
Argentine farmers have begun abandoning some wheat fields due to an extended lack of rainfall in certain parts of its agricultural heartland, the Buenos Aires grains exchange said in a weekly report on Thursday.
A pair of Argentine oilseed industry unions announced a one-day extension to an ongoing strike that has halted operations at the country's major agricultural hubs.