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La Nina threatens Commodity

La Nina threatens Commodity harvest. The strengthening potential of La Nina has made grain farmers especially waryin Argentina, one of the world’s largest exporting countries. The La Nina phenomenon is expected to be strong in October 2024. According to the Rosario grain exchange, this phenomenon usually brings dry weather with lower rainfall.

Dry conditions towards the end of the year will affect the development of some wheat crops in Argentina. Not only that, planting corn and soybeans will also have an impact on the 2024/2025 season.

For your information, Argentina has just recovered from the La Nina phenomenon for three consecutive years. This weather phenomenon hit the 2022/2023 harvest very hard, halving the production of soybeans, corn and wheat.

The exchange said that the projected cooling rate has rarely been seen in the last 25 years. This refers to the acceleration of equatorial market winds associated with La Nina, thereby causing cooling of the Pacific at the Equator.

La Nina threatens Commodity harvest, It is known that soybeans and corn in Argentina are in the growth stage, taking advantage of the abundant rainfall due to the El Nino phenomenon. Bursa Rosario estimates that the soybean harvest in 2023/2024 will be 49.5 million tons and the corn crop will be 57 million tons.

La Nina’s grip could also extend to Brazil, Uruguay and Paraguay, highlighting regional vulnerabilities. Meanwhile, Brazil, one of the countries with agricultural giants, experienced a decline in yields in soybeans and coffee due to the La Nina drought. This then affects the global market which depends on this commodity.

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