- Monsanto (NYSE:MON) execs say they are hopeful that Sunday’s presidential election vote in Argentina will lead to an overhaul of agricultural policies that have been blamed for reduced production and exports from the country that is a major producer of corn and soybeans.
- Both presidential candidates say they plan to scrap crop export taxes of 23% on corn and 35% on soybeans, a change that likely would be welcomed by farmers who have protested for years over the taxes that have caused many to hoard production rather than pay up.
- For MON, Argentina is an important growth market that could help it reach a target for higher earnings over the next four years, and CEO Hugh Grant has said ending the tariffs would incentivize sowing more acres.