Argentine producers could extend ban on meat sales, expand strike to grains

( )

Argentine cattle producers are slated to end their halt to meat sales at midnight tonight, a strike launched to protest the government’s 30-day ban on meat shipments. But the halt could be renewed and extended to grain sales.

Carlos Achetoni, president of the Argentine Agrarian Federation, told Reuters: “What is being analyzed is whether or not, if there is no agreement with the government in the coming days, to extend the strike to include grains sales as well.”

Harvest of the country’s corn and soybean crops is underway and the Argentine economy is highly reliant on the duties tacked onto the export of these commodities. The Argentine government is already struggling to pry soybeans away from producers holding onto the oilseed as a hedge against inflation. 

Tensions between Argentina’s farm sector and its Peronist President Alberto Fernandez are extremely high.

 

Latest News

First Thing Today Audio | July 28, 2021

Sweltering temperatures may spur some sever weather today, Senators near the finish line on physical infrastructure bill and the CDC reinstates mask guidance...

Concentration in Meat Processing Industry Focus of Two Hearings Today

Fed meeting will focus on tapering timeline | Focus on Fed chairman’s presser

Ahead of the Open | July 28, 2021

Ahead of the Open | July 28, 2021 Wheat futures surge as tour shows drought damage, corn, soybeans also higher.

First Thing Today | July 28, 2021

Excessive heat continues for central U.S.; severe weather possible. Day 1 of spring wheat tour calculates a sub-30 bpa yield. Fed meeting ends today. CDC urges masks indoors for everyone in areas of surging cases.

Indiana farmland prices hit record high in 2021

Annual June survey finds Indiana farmland values exceed old highs set in 2014.

canola-sunset-canada
ADM says China will need to import an additional 2 MMT of soybeans to counter canola losses

On an earnings call today, Archer Daniels Midland CEO Juan Luciano said the world lost 15 MMT of crop production due to bad weather over the past two to three weeks.