CBoT wheat prices are down 1% this morning as traders take profits from the previous price increases. However, there are still hopes of better sales opportunities for US wheat as the new government in Argentina has increased export tariffs.
This increases the opportunities for US wheat on the world market. Traders on the world market are already looking for an alternative to Argentinian wheat, reports a broker in Australia.
Wheat and corn exports from Argentina are to be subject to export duties of 15% instead of 12% from January 1. Soybean exports from there will also become more expensive.
Source
HANSA Terminhandel
