Exchange Drops Argentine Wheat Area Estimate
The Buenos Aires Cereals Exchange has dropped it's estimate for 2009/10 Argentine wheat plantings to 2.96 million hectares, from 3.2 million last week.
The figure is not quite as low as Oil World's estimate of 2.8 million earlier in the week, but it's getting there.
Although planting is still ongoing, we are already past the ideal date for optimum production, the exchange say.
This latest figure is 35% down on last year's planted area, due to drought, lack of finance, export taxes and the distinct probability that the government won't issue any export licences at all for 2009/10.
That would be interesting, as President Cristina Fernández de Kirchner recently struck a deal with wheat exporters to get them to buy a million tonnes of old crop wheat, in exchange for guarantees that the government would issue export licenses for a million tonnes of wheat in the next marketing year.
Crikey, a female politician LYING, who'd have thought that? She might me a hot babe, but she'll do, or say, anything for some new shoes. Allegedly.
The figure is not quite as low as Oil World's estimate of 2.8 million earlier in the week, but it's getting there.
Although planting is still ongoing, we are already past the ideal date for optimum production, the exchange say.
This latest figure is 35% down on last year's planted area, due to drought, lack of finance, export taxes and the distinct probability that the government won't issue any export licences at all for 2009/10.
That would be interesting, as President Cristina Fernández de Kirchner recently struck a deal with wheat exporters to get them to buy a million tonnes of old crop wheat, in exchange for guarantees that the government would issue export licenses for a million tonnes of wheat in the next marketing year.
Crikey, a female politician LYING, who'd have thought that? She might me a hot babe, but she'll do, or say, anything for some new shoes. Allegedly.