26 November 2012

ARGENTINA / COMMODITY : Wet Fields Delay Corn Planting And Harvest.


      President Kirchner has suffered a string of bad luck lately.
      While her lawyers in NYC appeal a recent unfavorable decision over sovereign debt...her nation's pampas breadbasket has suffered a long wet spell.
     Because of soaked fields...corn there will be planted late...and harvested late...propping up already high prices...and feeding world food inflation.
     The world is suffering from USA, Australia and Russian corn shortages because of drought.
     Argentina is the globe's #2 corn exporter.
     Argentina is now projected to produce 20% less corn than previously forecast.