Argentina halted exports of soymeal and soyoil this afternoon. The halt occurred just as the Gov’t promised 2 weeks ago to Argentine farmers that they would not intervein to slow the export pace due to rising food costs. However, it’s expected that any Argentine halt of soy product exports is based on the government’s desire…
If you believe the close of the CME’s SRW March wheat futures contract, prices reached an all-time high of $14.25 That took out the previous high of $13.34 (set in Feb 2008). ARC expects that new-highs will be set in the wheat market in coming weeks if not months.
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