2) But the drought is still bad news. Due to expectations of a poor harvest, @jpmorgan revised downward #Argentina's GDP growth for this year, from 3.3% to 2.8%.
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1) A new @citi analysis says #Argentina's drought will not have a major balance of payments impact, at least for now, because farmers stockpiled soybeans from previous harvests, and because the bad weather has raised soybean prices ($385 per ton, compared to $358 last year).
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3) Worse still, a
@BCP_Securities report says the drought will raise food prices in#Argentina, and "add to the country’s inflationary woes."Show this thread
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