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Friday, October 23, 2015

Argentina's Presidential Election Important for Soybean Market

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Argentina’s Presidential Election Important for Soybean Market
Michael Cordonnier, Soybean and Corn Advisor - Hinsdale, Illinois

This Sunday’s presidential election in Argentina is important to soybean farmers in the United States. Todd Gleason has more.

The vying candidates have differing views… 1:09 radio 1:13 radio self contained

The vying candidates have differing views on the commodity export tax. If it is removed, South American agricultural expert Michael Cordonnier of Soybean and Corn Advisor says farmers in Argentina will plant corn rather than beans.

Cordonnier :28 …will go out there and plant some more corn.

Quote Summary - That would be a game changer in Argentina. If they take off those export taxes, the farmers would like to plant more corn. Because right not there are six times more acres of soybeans than corn. They want to rotate more because the government is forcing them to have a mono crop of soybeans. So, if they take off the export tax. I think instantly the farmers will go out there and plant some more corn.

It is springtime in Argentina. The leading opposition candidate opposes the export tax. Argentine presidential elections take place Sunday, with a possible runoff election slated for November 22, if needed. Cordonnier made his comments during Commodity Week, a radio program produced at the University of Illinois.