(Bloomberg) -- A drought in Argentina continues to beat up soybean plants in a season to forget for farmers in the top exporter of soy meal and soy oil. The second-quarter harvest is estimated at just 29 million metric tons, the lowest since 2002, and could drop even further with no respite from the dryness in sight, according to the Buenos Aires Grain Exchange. The historical comparison shows just how punishing the drought has been, since 2002 predates Argentina’s soy-planting boom of the mid-2000s, when the South American nation had 38% less acreage than today.
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