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As we referenced in the #WeeklyAsado, the expected 13% drop in soybean production undermines @mauriciomacri's efforts to increase farm output by sharply lowering or eliminating export taxes. Subscribe here, http://pages.wilsoncenter.org/ArgentinaProjectSubscriptionCenter_LatinAmericaProgramSubscriptionLandingPage.html?mkt_tok=eyJpIjoiTkRWbFpXTTVORGxqTkRZNCIsInQiOiI5SStMUzIzcmJTYTNXOHRoSUdhSkp5VktnQ09sNEtPdEpTWFZkWDJJRUhuMDBcL2thYjBJamdsNVwvS2xScG1GT1JDQUE5UVllVVlZT3NoaFwvYnc2SkFaUkpKMnQwQlJVazM5RFVYb0w5VXEyTHFCUTAxR1ZYYk9BUk11VVp1cXg0ZCJ9 ….
Given #Argentina's leading role in global #soybean production, the drought in the Pampas is not only affecting the Argentine economy. @Reuters reports that U.S. soybean futures have risen to their highest level in seven months.pic.twitter.com/95GPC2fajs
#Argentina is the world's third-biggest soybean producer (after the U.S. and #Brazil), with production of 56.8 million metric tons in the 2015/2016 season, according to @USDA data.
Under @CFKArgentina, #Argentina's farmers and government clashed bitterly. Now, the former Sociedad Rural president runs the @AgroindustriaAR and @mauriciomacri has pledged to double farm production. Already, the government estimates that its farm output feeds 400 million people.
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