(Bloomberg) – Farmers in Argentina, the world’s seventh-largest wheat supplier, are piling up forward contracts to sell their grain to traders like never before. While crops are just being planted – the harvest season is mainly in November and December – growers have already sold and valued 2.3 million metric tons, about double what they had committed at the same point last year. . High prices, favorable conditions of humidity in the fields for planting and concerns that the government will interfere in exports by imposing higher taxes or restrictions are driving compulsive buying.
Original Note: Major Wheat Exporter Sees an Avalanche of Farmer Selling: Chart
More stories like this are available on bloomberg.com
Subscribe now to stay ahead with the most trusted business news source.
© 2021 Bloomberg LP
