Record cold weather in South America has led to crop devastation, yield drops, and price increases in countries such as Argentina, Uruguay, Paraguay, Bolivia, and Brazil. The extreme cold and historic snowfall have affected key crops including sugarcane, coffee, and corn, with Brazil experiencing its most severe frosts in a long time. The situation has led to early harvesting and significant losses, particularly in Parana, Brazil's second largest grain producer. The ongoing cold weather, which has caused delays in planting and crop sprouting, has resulted in concerns about breaching contracts and large crop losses.