MED-Amin network
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MED-Amin network
(Mediterranean Agricultural Information Network) Fostering cooperation and experience sharing among the national information systems on agricultural (cereals) markets in the Mediterranean. The network of 13 countries is coordinated by CIHEAM, and more specifically by its Mediterranean Agronomic Institute (MAI) of Montpellier.
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Turkey facing economic challenges

Turkey facing economic challenges | MED-Amin network | Scoop.it

By Dr. Hikmet Boyacioglu (World Grain), 03/01/2019 — Economic instability has increased in recent months in many parts of the world due to the trade war between the world’s two superpowers — China and the United States — and lower investor confidence, according to global market research company Euromonitor International. Turkey, the world’s leading flour exporter, has been affected by rising trade tensions and a stronger U.S. dollar. “The Turkish lira and Argentine peso have led the decline in emerging market currencies against the U.S. dollar due in part to multiple rate hikes by the Fed, including three in 2018,” the CME Group said.

Due to weakness of the Turkish lira, the cost of imported Russian wheat, used in the production of export flour, exceeded Turkey’s domestic wheat price in August...

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Argentina’s Export Tax to Drive Corn Acres Lower

Argentina’s Export Tax to Drive Corn Acres Lower | MED-Amin network | Scoop.it
by Luis Vieira (Agriculture.com), 05/09/2018
Argentina’s rising debt level is pushing up export taxes. Argentina has suffered a currency crisis since the beginning of the year, and the Argentinian peso devalued over 100% against the U.S. dollar since then. This is sparking increased export taxes for Argentina’s agricultural commodities. President Mauricio Macri announced US$ 12.9 billion in cuts and the return of export taxes to reach the full agreement of the IMF. 
On farm exports, the tax rate would be four pesos for every dollar in exports with a roof of 10% with some exceptions like soybean, oilseeds.
In the view of Gustavo López, president of Agritrend, based in Buenos Aires, the new tax will reduce the corn surface in Argentina. “Wheat was already planted. Corn is yet to be planted in Argentina after the wheat harvest. And corn was punished again.
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Wheat sags as weak exports, firm dollar prompt fund selling

Wheat sags as weak exports, firm dollar prompt fund selling | MED-Amin network | Scoop.it

By Julie Ingwersen (Reuters), 25/10/2018

U.S. wheat futures fell more than 2% on 25/10, with the benchmark December contract on the Chicago Board of Trade hitting its lowest in nine months, as sluggish export demand and a strong dollar prompted fund liquidation, analysts said. Corn and soybean futures also sank on poor weekly U.S. export sales data coupled with seasonal pressure from the advancing U.S. harvest. CBOT December wheat settled down 12-1/4 cents at $4.87-1/4 per bushel after dipping to $4.85-1/2, the contract's lowest level since Jan. 24 and the lowest for a most active wheat contract since mid-July. CBOT December corn ended down 7-1/4 cents at $3.61 a bushel after hitting a two-week low at $3.60-1/2. November soybeans fell 8-1/2 cents to $8.41-3/4 a bushel after recording a one-month low at $8.40. Wheat posted the biggest declines on a percentage basis as strength in the dollar added to concerns about export demand for U.S. supplies. The worries persisted even as the U.S. Department of Agriculture's weekly U.S. wheat export sales figure, at 442,500 tonnes for the current crop year, was in line with trade expectations. "It's still not enough to make a market. Lower prices are all about trying to find demand, and we're not finding it," said Tom Fritz, a partner with EFG Group in Chicago. Technical selling added to the slide as CBOT December wheat broke below its July low of $4.90, Fritz said, adding: "You are in the process of blowing out every long in there." 

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