Argentina: Grain and Feed Update
Link to report:
A new government policy raising export taxes for agricultural products from 6.7 percent to 12 percent in December 2019 drives advanced MY19/20 grain crop sales. For MY19/20, wheat production is estimated at 19.3 million tons, higher than USDA, barley production at 3.9 million tons, 800,000 tons lower than USDA and corn production at 48 million tons, 2 million tons lower than USDA. Post estimates of corn consumption for MY 18/19 and 19/20 are significantly lower than USDA. Corn exports in MY 18/19 are expected to hit a record 38 million tons.
