Recent dry, sunny weather has helped speed along harvest of Argentina’s soybean and corn crop but has also further diminished water levels along the Parana River that is key for transporting grains to the country’s main export channels.
The situation has forced exporters to reduce loading and take extra time to top off cargoes farther along the river where water levels improve.
According to a report at USSoy.org, global buyers will have to fill in for the reduced volume by turning to the U.S. or Brazil.
Brazil’s currency devaluations have soybean and gain exports in full swing. On the other hand, the U.S. has plenty of available export capacity until mid-September to ship a few extra vessels.
