Strike, La Nina to strain Argentina soybeans

BUENOS AIRES (Commodity Online) : Looming farmers’ strike and La Nina induced dry conditions in Argentina have given jitters to the international community as the country ranks third in export of soybeans and second in corn.
With supply side constraints dogging other parts of the world, other nations believe that global food prices will continue to rise on account of the Argentinean situation.
Food riots already started in parts of Africa, heralds a doom, many believe.
It may be spring before the markets shore up energy and address supply related woes.
USDA has stemmed down its production estimates for Argentina’s impending harvest to 50.5m tons of soyabeans and 23.5m tons of corn even as some independent analysts believe that the output could be to the tune of 47m tonnes of soyabeans 20m tonnes of corn.
The price of soybeans is expected to rise.
Farmers have called for a one-week strike in Argentina aimed to force the government to increase export quotas in grains and oilseeds.
Currently farmers are getting low prices for their produce and export curbs have taken toll on domestic prices.
The strike would suspend grain and oilseeds sales for one week.

(Source: http://www.commodityonline.com/news/Strike-La-Nina-to-strain-Argentina-soybeans-35690-3-1.html)