5/17/2016

Argentina wheat exports doubled in the first quarter

Argentina wheat exports doubled in the first quarter as farmers rushed to sell stockpiles ahead of an expected jump in plantings spurred by the open-market policies of new President Mauricio Macri. Macri ditched trade and currency controls as part of his plan to reset the economy. Growers wasted no time selling stocks that had piled up after years of interventionist policies under the previous government. Argentina shipped 3.13 million tonnes of the grain in the first three months of 2016 versus 1.53 million in the same 2015 period.