Worlds Largest Soybean Exporter Suspends Exports, Protectionism Takes Hold As Food Prices Surge

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The global food supply chains are about to get much worse as the prospect for dwindling stockpiles catapulted food prices to record highs. Governments worldwide are beginning to enforce protectionist measures to safeguard domestic food supplies.
According to a memo signed by Javier Preciado Patino, the secretary for agriculture markets, Argentina made moves this weekend to increase control over local farm goods by suspending soybean meal and oil for export.
The temporary halt by the world's top exporter of processed soy products. Following the news from Argentina, soy meal futures prices jumped more than 2.2%
That's not the only trouble with food supplies as the "breadbasket of the world" is also turning toward protectionism.