Global Scans · Argentina · Weekly Summary

WHAT'S NEXT?: Argentina domestic activity will be held back by rising inflation and the impact of numerous policy-induced economic distortions.

• [New] Argentina's flag carrier, Aerolineas Argentinas, will be suspending its route to John F. Kennedy International Airport in New York in August as it looks to consolidate its international network to more profitable destinations. Simple Flying
• [New] The main intra-regional passenger flows will remain between Chile and Brazil, Peru, Argentina, with Peru experiencing the highest rate of traffic increase at 4.2% annually. Airbus
• [New] The organizations, from Latin America, Africa, and Asia, denounced the harmful effects of GM wheat, which is already being consumed in Argentina and threatens to reach other countries. Sustainable Pulse
• [New] Brazil and Argentina predominantly grow GM corn, so the U.S. will easily remain Mexico's primary source for now, especially given the volume differences. MarketScreener
• Despite growth in Brazil being expected to weaken compared to 2023, the South & Central American region is still forecast to grow faster in 2024 and 2025 as Argentina emerges from recession. Bimco
• Increased manufacturing output in a place like Mexico could fuel commodity demand from countries such as Brazil, Chile or Argentina. Global Finance Magazine
• For Argentina, Dow Jones expects a tiny increase, from 50.0 mmt to 50.2 mmt, or 1.84 bb, roughly twice last year's production. DTN Progressive Farmer
• For Argentina, USDA is expected to keep its corn production estimate at 55.0 mmt, or 2.17 bb, up 57% from last year's drought-restricted crop. DTN Progressive Farmer
• Analysts on average expect the USDA to lower its estimate for Brazil's soybean harvest to 152.28 million metric tons and Argentina's harvest to 50.23 million metric tons. MarketScreener
• Argentina is expected to see a bumper harvest, with widespread rains over the weekend boosting confidence in that forecast. MarketScreener
• While the Chinese currency only constitutes about 3% of foreign reserves held by central banks abroad, China's central bank has opened swap lines with many other countries, including Argentina, Brazil, Mongolia, and Pakistan, which they could rely on instead of reserves if needed. Centre for European Reform
• Economists expect a modest contraction for the full year and see the budget gap hitting 5% of GDP. / Argentina financialpost
• Less sunflower seed production Higher production is expected In countries such as the US, Argentina, Russia and China. All About Feed
• Argentina's position as a peripheral nation places it directly in the crosshairs of the growing geopolitical tension between China and the United States, posing a significant security threat. The Diplomat
• Observers from Argentina, Chile, southern Brazil, and Uruguay will see the lunar occultation of Saturn. Vito Technology, Inc.
• The weather forecasts for Argentina are improving with more showers expected this week but coming after a hot and dry period first. MarketScreener
• The mammoth bill is a key plank of Milei's reforms plans for Argentina's embattled economy, which is grappling with inflation above 200%, depleted foreign currency reserves and a timebomb of debt repayments owned to creditors and investors. The Guardian
• In the coming decade, South America will become a significant producer of hydrogen and low-cost, low-emission fuels, especially in Argentina, Brazil, Colombia, and Chile, where key projects have been announced. Speyside Group
• The anticipated corn harvest in Argentina is projected to increase by approximately 60% compared to the previous year, while the soy crop is expected to double. TradingView
• Barchart's soybean production for Argentina is forecast at 51.6 MMT, compared to the Buenos Aires grains exchange's estimate of 52.5 MMT. TradingView
• Weather disruptions to soy crops in the U.S., Brazil, and Argentina can lead to undersupply. Investopedia
• The mammoth bill is a key plank of Milei's reforms plans for Argentina's embattled economy, which is grappling with inflation above 200%, depleted foreign currency reserves and a time-bomb of debt repayments owned to creditors and investors. WFIN Local News

Last updated: 11 April 2024