Bumper Wheat Harvest May Ignite Argentina's Economy
A record wheat harvest expected in Argentina this year could arrive just in time to jumpstart the ailing South American economy in the fourth quarter, after growth has been hit by low investment, high inflation and a soy crop devastated by drought.
Farmers are rushing to plant wheat in the moist conditions left by rainstorms that helped destroy Argentina's recently-harvested soy bean crop. Months of dry weather gave way in April to three weeks of storms that helped cut the crop to about 35 million tonnes from original estimates of 55 million.
The deluge sealed the fate of the 2017/18 soy season but the humidity left behind set the stage for an increase in 2018/19 wheat planting.
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