A ship called the Paraskevi out of Cyprus has run aground in the main channel of the Parana River blocking Argentina’s main grain exporting port at Rosario which could remain blocked for a week. Eighteen vessels are being delayed at a cost of $450,000 per day or $3.2 million for the week. Efforts are being made to remove the Paraskevi as the port is scheduled to begin receiving deliveries of corn and soybeans from the 2013/14 harvest at the end of the month. Argentina is expected to produce a record 54.5 million tons of soybeans this season according to the latest forecast by the Buenos Aires Grain Exchange. Approximately 80% of Argentina’s grain, oilseeds, and biodiesel is shipped out of the port at Rosario.
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