Argentina cereal exports to fall 10% in 2026 despite October record

Argentine agro-export earnings are projected to decline roughly 10% in 2026 versus 2025's ~US$31.4 billion, despite an October record. The drop is driven by lower international grain prices and evolving Black Sea conflict dynamics, which affect supply and pricing. The projection signals a reversal of recent momentum and could pressure Argentina's fiscal and FX position.

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