Argentine soy scorched beyond repair, season 'dead' -experts
Hugh Bronstein, Reuters
March 12, 2018
BUENOS AIRES, March 12 (Reuters) - Hope has withered for any recovery in Argentine soy yields hit by a four-month drought that shows no signs of abating, farmers and analysts said on Monday, prompting China to step in to fill the gap in soymeal exports from the world’s No. 1 supplier.
The dryness that has blighted the Argentine Pampas since mid-November has forced producers to repeatedly slash their estimates for the 2017-2018 crop. The light rains that are forecast for the days ahead will not be enough to restore fields baked by an unrelenting southern hemisphere summer sun.
“The current season is dead in terms of crop yields,” said German Heinzenknecht, weather specialist with the Applied Climatology consultancy.
“The showers that are on the way are not going to help soy or corn, but they could improve planting conditions for wheat, which starts being sowed in May.”
China’s 2017/18 soymeal exports are set to nearly double to around 2 million tonnes, traders said on Monday, lifted by lower Argentine supply. Asian countries led by Japan, South Korea and Vietnam are key importers of soymeal...
“GAME ALMOST OVER” ...