Floods Wipe Out 15% of Argentine Soy Crop
The first three weeks of April saw record downpours in Argentine
Argentina lost an estimated 9 million metric tons of soy in the April storms that swamped the Pampas farm belt, an analyst with the state weather agency said on Monday, forecasting a 15 to 16 percent drop in production from the world's No. 3 exporter.
The sun has come out but too late to help the hardest hit areas. Big importers like China are already looking to the U.S. Midwest to make up for a likely drop in Argentine supply. To read more click here.