Puzzling Wheat Prices Raise Fears of Manipulation in Argentina
- Index for November wheat is 8% higher than market levels
- Move could be designed to curb exports, keep local flour cheap
Photographer: Diego Giudice/Bloomberg
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Farmers in Argentina are worried that wheat-price anomalies signal the ruling Peronist party is starting to meddle in grain markets just months into its four-year term.
The Agriculture Ministry’s free-on-board reference prices for wheat, used by exporters to pay farmers, are higher than those traders would settle at, according to Eugenio Irazuegui, head of research at local grain brokerage Enrique Zeni.