Argentine Farmers Wary of Planting Crops
Aug 17, 2012 07:57 AM EDT | By Sharon Robinson
Farmers in Argentina, fearing a repeat of last year's bad weather, are wary of planting new crops. While an exceedingly hot weather spoilt crops last year, this year it is too much rain.
The farmers have already been battling bad policies from the government led by President Cristina Fernandez. As bad weather persists, planting season, which begins in September and continues into October, could have a very bad start.
This will only further frustrate farmers looking to take advantage of high prices that grains are going for in the international market. But, were the rain to let up now, farmers can still have a good planting season, according to Reuters.
Like Us on Facebook
Since the U.S. mid-west has been wilting under the most severe drought in 56 years, hopes have been placed on South American countries like Argentina to meet global demands for corn, wheat and soy. It is very likely that the global demand may go unfulfilled.
The planting season for wheat has already begun. But, the dry weather which persisted in the first couple of weeks of August has seen a decrease in the amount of land being planted with wheat. According to a report in the Financial Times, farmers have planted only 3.6 million hectares of land, a million hectares less than last year.
It is unlikely that the area planted will be increased; the rain will prevent farmers from doing so.
Moreover, Argentina's high inflation may keep farmers from planting corn, a costly crop to plant, the Financial Times further adds. But, soy outputs may increase.
Meanwhile, the price of corn, wheat and soy has been on the uptick. Corn is currently going for $8 per bushel, after a 2 percent rise, on the Chicago Board of Trade (CBOT). Wheat is priced at $8.42 per bushel, and soy at $15 a bushel, at the CBOT.
New McDonalds slogan lovin beats hatin stirs more comments and opinions than the fast food maker envisioned. Here’s why the new slogan ‘Lovin beats hatin’ could potentially cause more hate than love.
The second largest fastfood chain in the world will launch its first stores in India in the coming months. Target locations will be New Delhi, Mumbai and NCR.
Panera Bread Co (PNRA.O) on Tuesday lowered its full-year earnings forecast as it works to speed up service at its popular bakery cafes.
Utah Family Found Dead – In Springfield, five family members, including two parents and three children ranging from the ages of 11 to 14, were found dead by an older son.
The first batch of robots which will be called as Pepper will be assigned on their stations at the end of the year to sell home espresso machines and coffee capsules.
A new study has found that there is such a thing as the brain’s calorie counter, which explains why the brain has a tendency to choose junk food over healthier one, as it’s attempting to fill a quota. The discovery of the brain’s calorie counter explains the body’s need for fatty foods, beyond the fact that these types of meals are cheaper.