Argentina's planned farm strike could increase corn price
Argentina's agriculture ministry expects the country to harvest 25.7 million tonnes corn and 50.6 million of soybeans this season.
Global importers' reliance on South American corn and soybeans has increased in 2013 because U.S. stocks of both commodities are the tightest in years. Late planting in the United States and a likely later-than-normal harvest have increased demand for Argentine and Brazilian crops.
President Fernandez, re-elected in 2011 on promises of deepening the government's role in Latin America's No. 3 economy, has long feuded with the country's farm sector.
Growers say their profits have been whittled down to nearly nothing by high taxes and export curbs placed on corn and wheat.
The curbs are meant to ensure ample domestic food supplies but farmers say they distort prices while inflation, fueled by Fernandez's expansive fiscal policies and clocked by private economists at 25 percent, has increased farm production costs.