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Dollar-Strapped Argentina Eyes Help From Record Grain Exports

  • Wheat and barley shipments forecast to be worth $4.9 billion
  • Dollar proceeds could give weak Argentine peso breathing room
High prices are set to couple with big harvests for Argentina

Bumper harvests of wheat and barley in Argentina and high prices are set to give the government some breathing room with the peso, which it’s widely expected to devalue.

Farmers on the Pampas growing belt recently started collecting the grains, and by the time they’ve finished fieldwork in early January exports are forecast to be worth $4.9 billion, according to the Buenos Aires Grain Exchange. That’s 16% more than in the previous season and a record for the six years that the bourse has been tracking shipments, said chief economist Agustin Tejeda.