Weather Outlook  The arrival of the expected "El Niño" weather event for Argentina continues to be delayed, and the situation is becoming more complex every day. There is a very large area that includes the western part of Buenos Aires, the eastern part of La Pampa, the provinces of Cordoba, Tucumán, Santiago del Estero, and a section of Santa Fe where water reserves at a depth of 1 meter are practically zero. 

The Nucleus region (Argentina’s corn agricultural area) can hold out for a few more days or weeks as the rest of the province of Buenos Aires, most of Santa Fe, and Entre Rios are in better shape. These regions currently have no issues, and the medium-term outlook is favorable.  Rainfall maps a...