Argentina’s 2013/14 soybean crop will be above 50 million tons while corn can be expected to reach 30 million tons, according to the country’s Agriculture minister Norberto Yauhar, based on preliminary production estimates. The minister also advanced that caps on wheat and corn exports could be lifted in the near future.
Argentina Domestic Commerce Secretary, Guillermo Moreno has given mills and exporters until Friday to normalize the wheat market which has been under stress with bread prices doubling in the last month, and farmers’ complaining about the worst harvest in decades because of government policies.
China approved three genetically modified soybean types for consumption, including the RR2BT seed resistant to the imidazolinonas and the glufosinat-ammonium herbicides. The announcement was made following a meeting between Agriculture ministers from Argentina and China in Beijing.
Argentine president Cristina Fernandez shuffled her cabinet appointing Defence minister Arturo Puricelli at the Security ministry and Agustin Rossi until now head of the government’s block in the Lower House, in Defence. Removed Nilda Garré is to be appointed as the new ambassador before the Organization of American States, OAS.
Argentine Agriculture and Livestock Minister Norberto Yauhar accused farmers who organized what proved to be a very effective 24 hours livestock trading strike on Wednesday, of responding to ‘political interests’. The farmers’ Liaison Board said they are considering extending the protest to other economic activities.
Argentina pledges to export an extra 2.75 million tons of corn from its 2011-12 harvest to a total of 16.45 million tons helping to ease tight international markets after this summer's drought in the US damaged crops there and fuelled fears of a food crisis.
The Argentine government unveiled on Tuesday the list of the new cabinet members for President Cristina Fernández second mandate which will start next Saturday when she takes the oath of office. The initial reactions were positive both in the political system and from markets.