Policy and Macroeconomic Update There is discomfort among farmers in the Argentine countryside. The newly inaugurated Milei administration promised during its campaign measures that would favor producers, but for the moment is not fully keeping its word. Although the changes to the exchange rate benefitted farmers, other measures are working against them. The increase in an export tax for all products (including soybeans, soyoil, and soymeal) has not yet been passed by law, but it will be sooner or later. Additionally, the administration extended the deadlines for wheat export permits and Central Bank regulations that raise financing rates for those producers who retain more than 5 percent of their soybean harvest. Wheat The El Ni&ntilde...

TAGS – Feed Grains, Soy & Oilseeds, Wheat, China, South America