A once-a-century drought has lowered the water level of Argentina's main grains transport river, reducing farm exports and boosting logistics costs in a trend that meteorologists said will likely continue into 2022.
Argentina is nearing an initial agreement with China that could pave for the way for potential investments by the Asian giant in local pork production for export.
China recently granted export licenses to some Argentine meat-processing plants to plug a pork supply gap as African swine fever continues to devastate China’s pig herds.
The U.S. pork industry is excited about the potential of sending U.S. pork to Argentina – a market that hasn’t been available to U.S. pork for 26 years. One province, however, is balking at the deal.
The U.S. will shield a list of allies including Europe, Australia, South Korea, Argentina and Brazil from steel and aluminum tariffs that take effect on Friday, according to U.S. Trade Representative Robert Lighthizer.
On Thursday, the USDA released its monthly World Agricultural Supply and Demand Estimates (WASDE) report, showing corn is seeing increased exports and reduced stocks.