Costs hit $224mn as Argentina’s Parana River levels fall to 50-year low

Argentina’s Parana River water depth has hit levels not seen in the last five decades, slowing down grain loadings and logistics at the nation’s key water way, costing the local grain industry $244 million in the last four months, the Rosario Board of Trade (BCR) said. Argentina and Brazil have been in talks to release water from the Brazilian Baixo Iguacu dam to improve the water level but with limited success thus far. Argentina is the world’s third largest soybean and corn exporter, as well as the number one exporter of soymeal and soyoil.

Source: Agricensus