Farmers in the United States may be facing some stiffer competition for markets for their soybeans, corn and wheat following the election of Argentina’s President, Mauricio Macri. Macri has promised his country’s farmers he would help them ship an estimated $ 8 billion in stored crops as soon as export taxes are lifted. American Soybean Association President Wade Cowan says it remains to be seen what effect that’ll have on U.S markets.

Cowan says U.S. farmers can compete with anyone.

He says U.S. growers have several advantages over their South American competitors including a higher quality product and a solid infrastructure system that’s better than what South American countries have.

Macri who takes office on December 10 also vows to lift currency controls. Argentina has shipped $ 17.6 billion of grains and oilseeds abroad so far this year, the lowest for the period since 2009.
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