The rains that fell earlier this week provided much-needed relief from drought conditions for more than 60% of Argentina’s current soybean crop. The exchange characterized this turn of events as the rescue of the country’s main cash crop “from hell”, but emphasized that “the relief has not reached everyone”. Argentina is one of the world’s largest suppliers of processed soybeans, as well as a major exporter of corn and wheat. Proceeds from sales increase the central bank’s foreign exchange reserves.
February 10, 2025
SOURCE: UKR AGROCONSULT
Rains in Argentina saved the soybean crop