Argentina
The Farm Action co-founder says it’s time for agriculture to face an uncomfortable truth. From cattle to crops, American agriculture must rebuild from the ground up or face a tough reality: U.S. agriculture no longer feeds the world.
Arlan Suderman says the U.S. is strengthening ties with Argentina to counter China’s growing influence — a global strategy that’s leaving many U.S. farmers and ranchers feeling sidelined.
Kevin Marcus gives insights from U.S. to South America to China growing and harvest seasons.
USDA’s April WASDE report showed larger wheat and soybean ending stocks, but smaller ending stocks for corn. More surprising, still, was the lack of changes to South America’s crop estimates.
Recent WASDE reports had assumed another record Brazilian soybean crop and Argentina returning to normal, but the El Niño weather pattern might have something to say about that.
A historic drought has severely cut the size of this year’s crop in Argentina, especially soybeans. Processors will be forced to import soybeans just to stay in business.
Analysts say the trade expected a bullish USDA report. With minimal changes, traders sold the market and commodity prices dropped.