Argentina suspends corn export registry
Argentina’s Ministry of Agriculture is suspending corn export registrations.
The move is to ensure domestic supplies and limit price inflation, especially as a livestock feed component, and will last until at least February 28th, 2021, the end of the current marketing year.
Argentina’s government says the restriction could be shortened or extended, depending on the supply and demand situation.
The Buenos Aires Grain Exchange says just over 60% of Argentina’s corn crop has been planted, with 20% of the crop in good to excellent condition because of lower than normal rainfall in many key growing areas.
Argentina is a leading exporter of corn, so this could drive more business to the U.S., accelerating the pace of sales even further.
The USDA’s next set of supply and demand estimates for Argentina is out January 12th.