Here’s what we have for you today:
• The outback
• Pacing pesos
• Wild Amazon
Australian crop forecast
Seasonal farming: Wheat is an important winter crop in Australia with planting from the month of April and the harvest month beginning in November.
Aussie estimation: Barley output was recently forecasted at 10.5 million tons, but down 26% from a year earlier.
The other: While canola was estimated at 5.2 million tons, but down 38% from a year earlier.
Argentina spreading its peso
Drying up: A collapse in the Argentine peso has worsened the nation’s hyperinflation and debt issues. In addition to an ongoing drought bearing down on the country’s agricultural exports.
Out of touch: Previously the dollar has surged some 240% against the peso since the end of 2021.
The outlook: The Institute of International Finance’s Chief Economist, Robin suggested that it might be better for Argentina to peg its exchange rate to the Brazilian real, instead of the US currency.
Amazon dipping into uncharted territories
The dispute: Reportedly Amazon is facing lawsuits from landlords over some proposed Fresh store locations.
Legal matters: Salisbury Partners sued Amazon for $37 million, which includes unpaid rent, and they are both scheduled to appear in New York’s supreme court in Nassau County on September 22, 2023.
Other cases: Another landlord in New Jersey is suing Amazon for $10 million after readying one of its properties for an Amazon Fresh store. Amazon has also faced separate lawsuits from landlords in Philadelphia and Seattle.