Argentina Soy 2026/27: Area Up, Prices Better, El Niño Risk Looms

Argentine analysts expect a recovery in soy planted area for 2026/27, driven by improved prices, particularly in the north. El Niño conditions could boost yields but raise water-excess risk, while high input costs still pressure margins. The net market impact is mixed: better prices support farmer income and exports, but weather uncertainty and cost inflation temper the bullish case.