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1) Bad sign: #Argentina is buying large quantities of U.S. soy, after a prolonged drought left crushers short of supplies for soymeal and soyoil, @Reuters reports. @USDA says Argentina will harvest just 40 million tons, the lowest amount in a decade. https://reut.rs/2IIGoev
2) It wasn't supposed to be like this. Between the #NAFTA contretemps and U.S.-#China trade tensions, #Argentina's farmers were supposed to be ramping up production to gain market share at the expense of U.S. competitors.
3) Instead, @jpmorgan analysts say the dry spell "wreaks havoc" on a key economic sector, and Itaú has lowered its GDP forecast for #Argentina to 2.8% from 3.5%.
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