Reported 3 days ago
Argentine farmers are hesitating to sell their soybeans at the slowest rate in a decade, influenced by expectations of a weakening peso and potential government tax relief. As of March 19, only 17.3%-18.1% of the expected harvest had been sold, raising concerns for the government dependent on soy exports for dollar inflows. The uncertainty in exchange rates, along with adverse weather affecting crops, has led farmers to focus on selling corn instead, as they hope for further tax cuts to improve their financial situation.
Source: YAHOO