29 June 2009

Argentina's Wheat Exports May End

Argentina may stop exporting wheat... for the first time in over 100 years...because of severe drought.

The world’s fourth largest wheat exporter expects a 2009-2010 harvest of 6 million tons, a 28 percent decline from the previous season... and only enough for local consumption.

“The situation is now getting dangerous,” says one expert.

http://www.bloomberg.com/apps/news?pid=20601086&sid=acXLbbY1XcxE