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Argentine Farmers to Plant More Soybeans at the Expense of Corn

08/29/2024

Following drought that may be exacerbated by transition to a La Nina and a devastating plague of leaf-hopper insects, farmers in Argentine are intended to convert up to 5 million acres of corn area to soybeans.

 

The change could affect prices of commodities given the intended increase in the volume of production. Argentine is a prominent world exporter of soybeans and soybean meal with extensive crushing and shipping capacity.