America’s drought pain is Argentina’s revenue gain as prices soar for soy, corn, wheat

WP ^ | 07/1912

[TigerLikesRooster]

America’s drought pain is Argentina’s revenue gain as prices soar for soy, corn, wheat

By Associated Press, Published: July 19

BUENOS AIRES, Argentina — America’s loss is Argentina’s gain. Record soy prices due to a punishing drought in the U.S. heartland are expected to create billions of dollars in new revenue for the South American country, which is the world’s third-largest soy producer behind the U.S. and Brazil.

Prices for soybeans for August delivery gained 50.25 cents, or 3 percent, to end at $17.3375 a bushel. Corn also beat its all-time high of a year ago, with September deliveries rising 12.75 cents to finish at $8.0775 per bushel. September wheat also rose a sharp 31.75 cents to close at $9.35 per bushel on the Chicago Board of Trade, its highest prices since 2008.

[Jim from C-Town]

It is the era of Obama, Everybody is having their lively hood destroyed. Outside of Bankruptcy and Disability Attorneys there is little growth industry.

[HereInTheHeartland]

Odd to drive I 80 today through Iowa and not have my windshield covered with bugs. Livestock numbets are being culled now. This will ripple.p

[jjotto]

The US corn supply shrinking from 13 billion bushels to 9-10-11 billion bushels isn’t going to starve anyone, especially with record world supplies.

[Western Phil]

Disaster declarations mean that farmers *may* be eligible for low-interest loans to get by. A farmer still has to apply and meet eligibility requirements, including an ability to repay the loan. That is pretty much the extent of "assistance"

Unless you are a "minority" and have been "denied" this "assistance" in the past.

[JustaDumbBlonde]

Argentina will definitely benefit from sales of grain that are still in storage from the last harvest. What the article does not set out clearly is that Argentina’s spring planting has not been done. Argentina could very well have similar weather problems and/or natural disasters. You can’t count the cash until the crop is out of the field. Theirs is not even *in* the field yet.

[Just mythoughts]

http://www.komu.com/news/usda-declares-all-missouri-counties-disaster-areas-because-of-heat-drought/

“USDA Declares All Missouri Counties Disaster Areas Because of Heat, Drought”
I am hearing the same thing about livestock around these parts.