World Perspectives
feed-grains soy-oilseeds wheat

Market Commentary

Confidence that the Argentine labor situation will quickly be resolved along with weakening world grain prices seemed to trump a surprisingly friendly weekly export sales report for corn and soybeans. General Comments As expected, various Argentine labor unions involved in moving, handling and processing soybeans went on strike with demands of higher wages. This is the time of year when they have maximum leverage. However, the Argentine government cannot afford to lose export tax revenues, and has told both parties to come to an agreement by next Monday afternoon or it will start to seize assets. Tomorrow (Friday) is the May Day holiday, so all parties plan to meet in Buenos Aires on Monday where a settlement is expected. With inflation r...

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