Argentina's drought has big repercussions for global food markets, forcing farmers to slash harvest outlooks and denting grains supply.
“In Argentina this drought situation has created a perfect storm,” said Cristian Russo, head of agricultural estimates at the Rosario grains exchange, which cut its soybean harvest estimate this month to what would be the lowest in 14 years.
“It’s going to be a crisis like we haven’t seen. That implies that many producers are going to go bankrupt.” “You hear the calves bleat until they die. It’s terrible,” the 63-year-old told Reuters at his farm, where the water reservoirs he had dug are all dried up, forcing him to bring what little water he can in by truck.
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