The Argentine River That Carries Soybeans to World Is Drying Up

Aug 07, 2021 at 02:39 PM CST
Grains traders suddenly found themselves forced to scale back how much they pile onto cargo ships, afraid to get them stuck in the river’s shallow banks, and then either add to their load once they reach deeper sea ports or contract out more vessels. Both are expensive, time-consuming options that have hamstrung an industry that pulls in more than $20 billion annually from exports. Gustavo Idigoras, head of Ciara-Cec, a crop export and processing group whose members include Cargill Inc. and Glencore Plc, called it an “emergency situation” that will likely last through the end of the year.

Aug 07, 2021 at 02:39 PM CST

Grains traders suddenly found themselves forced to scale back how much they pile onto cargo ships, afraid to get them stuck in the river’s shallow banks, and then either add to their load once they reach deeper sea ports or contract out more vessels. Both are expensive, time-consuming options that have hamstrung an industry that pulls in more than $20 billion annually from exports. Gustavo Idigoras, head of Ciara-Cec, a crop export and processing group whose members include Cargill Inc. and Glencore Plc, called it an “emergency situation” that will likely last through the end of the year.