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Argentina's drought helps US farmers profit from grain reserves

Published Mon, Mar 5, 2018 · 09:50 PM

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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Argentina's drought helps US farmers profit from grain reserves

Energy & Commodities

Oil settles higher on supply concerns in the Mid-East, economic woes subdue gains

Seatrium unit to fully redeem S$500 million worth of floating-rate bonds early

Anglo rejects BHP takeover bid as significantly undervalued

India rice prices at three-month low on shrinking demand

Gold prices set for weekly decline ahead of US inflation data

Pricey coffee is here to stay as hoarding, heat hit Vietnam supply

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