Grains - Grain Products

Wheat: Argentina delays repayment of foreign debt

January 23, 2020 11:13 AM, Der AUDITOR
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FRANKFURT. The wheat market was slightly weaker in Chicago and Paris and firmer in the Black Sea Region. Argentina is failing to repay its foreign debt, which has caused great uncertainty among exporters. The ongoing strikes in France are increasingly endangering the export and baking industries. France is awarded the Algerian tender for a large share.

In Chicago the front date was quoted at 578.75 cents per bushel, which is 7 cents weaker than yesterday, quotations in Paris were at EUR 95.75 per metric tonne, EUR 3.50 less than yesterday. Only on the Black Sea the February contract increased by 50 cents to USD 233. There was talk of profit-taking in Chicago because China was not buying US agricultural goods. Argentina also put pressure on prices, with the government failing to repay foreign debt worth USD 250 billion. This gave rise to fears of export restrictions, as the market had witnessed two years ago. Argentina benefited

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