ARGENTINA.
SOY GAINS 2% PRICE INCREASE.
The news of the drought in Argentina and the possible affect on the soy harvest, saw the price of soy increase 2% in the United States on Thursday.
Wheat and corn struggled before ending weak on the market, while the soy market was in a bullish mood, with concerns over the vast pr-orders on the books from China, the worlds biggest buyer of soy.
Argentina is also the worlds second largest exporter of corn after the United States, the whole problem is now in the hands of God, for he alone controls the Argentine weather.
The state of Chaco in Argentina, declared a state of emergency on Friday, for 180 days as a direct result of the drought and the effect on farmers.
There have been severe losses in the production of sunflower, and the cattle farming is in dire straits, as there is no summer grass.
Meanwhile the government has issued a statement showing inflation at 7.5%, while the editorials of every daily newspaper are claiming the figure is close to 25%.
Farm unions have taken to the roads for the day, 2,500 farmers workers have blocked Route 9 in Buenos Aires, while their masters are enjoying the sun and sand at Mar del Plata.
The farm workers joined forces with the metal workers union, to protest about inflation and unemployment, they claim is a result of government policy.
The president is back in town and had dinner with Oliver Stone last night, who is making a film about the anti US sentiment in Latin America.