Argentina's drought helps US farmers profit from grain reserves
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Chivilcoy, Argentina
ARGENTINA's worst drought in decades is shrivelling farmers' fields, sending grain prices soaring and forcing Bunge Ltd and other major crop processors to crush fewer oilseeds into feed that fattens livestock around the world.
The drought in Argentina, the world's No 3 exporter of corn and soyabeans, has not ended a scenario of global oversupply left by years of bumper harvests driven by good weather and genetically engineered crops.
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