Drought, Soaring Fertilizer Costs Push Argentine Farmers to Grow More Soy
- Parched farms, expensive fertilizer drive a corn-to-soy switch
- More Argentine soybeans would factor heavily into food costs
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Farmers in Argentina are grappling with a third straight year of withering drought ahead of the growing season, but this year they have a new strategy to beat it: plant soybeans.
For the first time since 2015, growers on the Pampas crop belt are set to expand the area planted with soy as they try to shield their businesses from the dryness. It’s an unexpected move because in past seasons corn has been preferred over soy to get the most out of droughts. But this year, corn is the bigger risk.