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Argentine Soybean, Corn Exports May Be Disrupted by Strike
10.06.2010 13:49 "Agro Perspectiva" (Kyiv) —
Argentine soybean and corn exports may be disrupted next week by a strike if workers who control the quality of grains and beans don’t receive a 48 percent raise, the union said.
The union, known as URGARA, is seeking 6,000 pesos ($1,532) a month or workers will strike on June 14, union head Alfredo Palacios said today in an e-mailed statement. Employers are offering an increase to 4,800 pesos, he said. The current base salary is 4,063.46, according to the union’s website.
Argentina is the world’s third-largest exporter and producer of soybeans and the second-largest exporter of corn, according to Bloomberg data. The largest exporters in Argentina are Cargill Inc. and Bunge Ltd.
Soybean futures for July delivery climbed 12.5 cents, or 1.3 percent, to $9.435 a bushel on the Chicago Board of Trade, the first gain since June 3. The price is down 12 percent in the past year, partly because of increased production in Argentina in Brazil.
Corn futures for July delivery rose 1 cent, or 0.3 percent, to $3.3825 a bushel on the CBOT, the second straight gain. The price has slipped 18 percent this year, in part because of rising supplies.
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