February 1, 2008

Argentina partially resumes corn, wheat exports on Thursday

Argentine officials partially reopened the corn and wheat export registry yesterday since its closure in November 2007.

The country's agriculture secretariat said that a maximum of 400,000 tonnes was set for wheat on a monthly basis, with a daily limit of 12,000 tonnes.

However, no threshold figures were given for corn exports.

Argentina, one of the leading exporters of wheat, halted exports last year to ensure domestic supply which was threatened by low harvest after winter season. The suspension of exports was seen necessary to tame inflation.

The country now estimates around 2 million tonnes available in the coming months.

Yesterday's price of wheat fell on the Chicago Board of Trade as Argentina resumes exports, after having registered an 8.8-percent increase since January.