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Argentina ends corn export restrictions

Argentina’s government says it will lift corn export restrictions. Buenos Aires and major grain groups have agreed to a commission to monitor domestic corn prices and the quantity of corn available for export.

Argentina suspended the corn export registry through the end of February late last year to ensure adequate feed supplies and switched to a 30,000 ton a day export cap earlier this year, with major grain groups calling both restrictions unnecessary.

Argentina is the third biggest exporter of corn, following the U.S. and Brazil.

The USDA currently has Argentina’s corn crop at 47.5 million tons, down 1.5 million from December because of dry weather in some key growing areas, and projects exports at 34 million tons, with the next set of estimates out February 9th.

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