Geopolitics

Argentina policy shifts boost early feed grain exports

A change in Argentine government policy that increased export taxes on agricultural products from 6.7% to 12% spurred forward sales of feed grains for the 2019/20 marketing year (MY), reported the Foreign Agricultural Service (FAS), US Department of Agriculture (USDA). Strong global prices have helped mitigate some of the negative effects of the additional export tax. However, domestic use of corn may be lowering even as livestock production increases.

Source: Feed Navigator