Sharp Rise in Prices of Corn, Wheat and Soybeans
The prices of products derived from these grains have gone up, with supply having been severely affected by the worst drought in the U.S. in the last 25 years.
Tuesday, July 24, 2012
An article in Nacion.com reports on the rapid changes that the international price of soybeans, corn and wheat have suffered in the last month:
The country is negotiating with Russia the purchase of 100.000 tons of wheat to supply poultry farms.
The Inter-American Institute for Cooperation on Agriculture should not overreact to current price conditions, avoiding trade-distorting policies.
A 4% drop in corn production is projected for the crop yield for 15/16 compared to 14/15.
The U.S. grant represents an estimated $ 6.5 million and will be used to finance various projects.
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