Amazon Drought Hits River Grain Shipments Harder Than Expected
- Hidrovias do Brasil revised down its guidance for the year
- Poor Amazon rains cause grains exports to be rerouted to south
Low water levels in a canal in Amazonas State, Brazil.
Photographer: Michael Dantas/AFP/Getty ImagesThis article is for subscribers only.
A severe drought in the Amazon region is disrupting grain shipments more than anticipated, according to one of Brazil’s top barge operators.
Unable to move its barges filled with products like corn and soybeans, Hidrovias do Brasil SA is forecasting lower results for this year than previously predicted, company executives said on an earnings call Tuesday.