Argentina's government said on Friday it would seek to redirect a loan from the Inter-American Development Bank for $300 million to contain the effects of a devastating drought on the Paraná River, a key waterway for trade and power generation and a source of drinking water.
The U.S. government slashed its outlook for domestic corn production by 2.7% and its soybean harvest view by 1.5% on Thursday as dry soils in key western growing areas cut into the potential for a bumper harvest.
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