Low Argentine river levels boosting soybean prices into Brazil

In Argentina, Palm Oil Magazine reports that low river levels in Argentina have impeded soybean transportation which in turn has pushed up prices for soybean oil and biodiesel in Brazil. As a result of low levels on the Paraná River, boats have been forced to cut their cargoes by up to 12%. Between short supplies and higher demand for the 14% biodiesel blending mandate in place since April, Brazilian soy oil exports are expected to drop by half in 2024.