Highlights
The weather forecasters have come to the consensus there will be significant rainfall in the dry areas of South America starting this weekend. That is what last Monday’s ENSO update indicated with the rising water temperature and our rain day charts have been increasing the number of days with rain in the ten day forecast all week.
Uruguay borders Argentina to its west and southwest, Brazil to its north and northeast while bordering the Río de la Plata to the south, and the Atlantic Ocean to the southeast. It is part of the Southern Cone region of South America. It is a small country land area wise with a population of about 3.4 million. It is the world’s 9th largest producer of soybeans. Uruguay's agricultural exports contribute ~10% the nation’s GDP and employ ~13% of the workforce.
Santiago Fernandez Camacho is the Managing Director of Trade Bridge Group. We exchange information with Santiago and earlier this week we asked him to give us a brief update on crop conditions in his part of the world. He replied yesterday: