July 19, 2012
Trucker Miguel Gospodneich, slightly obscured by grain dust, watches as soybeans shoot from the shaft of a grain harvester into his truck to be transported for sale, near Pergamino, Argentina. Record soy prices due to the punishing drought in America’s heartland has been a boon for Argentina, where the government expects to collect billions in new revenues.
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America’s loss is Argentina’s gain. Record soy prices due to a punishing drought in the U.S. heartland are expected to create billions of dollars in new revenue for the South American country, which is the world’s third-largest soy producer behind the U.S. and Brazil.