World: A new cycle well moved

From an international point of view, the latest report from the United States Department of Agriculture (USDA) confirms a recomposition of production at a general level for all grains, to a certain extent influenced by South America, where record harvests are expected in Brazil and a recovery in the Argentine supply as a result of the establishment of a Niño event that allows inferring more stable climatic conditions and therefore increased yields in crops, after the devastating drought that limited the productive potential to unexpected levels. These improvements are accompanied by a sustained level of trade, both in raw materials and their derivatives, which is reflected in the estimated final stocks, which are among the lowest in the five-year period, which makes it possible to project prices that are at least sustained. But the expected bonanza in these latitudes contrasts with a very complex reality in the Northern Hemisphere, where extremely high temperatures and low ...