Famines Update

Severe drought blamed for sharp decline in economy, exports of soy and corn, Argentina

Blog note: And great earthquakes shall be in diverse places, and famines, and pestilences; and fearful sights and great signs shall there be from heaven. (Luke 21:11). Jesus is giving a series of prophecies about what to look for as the age of grace comes to a close. This verse from Luke is one of many such prophecies from throughout the Bible. 2017 was the worst year in recorded history for the intensity, frequency, severity, duration and occurrence of a large number of severe natural disasters worldwide. Earthquakes, volcanoes, hurricanes, typhoons, cyclones, torrential flooding, unprecedented wildfires in unusual places, devastating droughts, excessive/scorching heat setting records everywhere, record snowfalls in Europe and Russia. Snow in the Arabia. This list can go on. Most studied eschatologists believe these ‘fearful sights’ and massive natural disasters are all part of the ‘CONVERGENCE’ of signs that this Biblical and prophetic age is closing. Most people who study prophecy are familiar with the routine reference(s) made that these things will be like a woman having labor pains that occur in greater severity, frequency, size and duration prior to giving birth. End of note.

Severe drought blamed for sharp decline in economy, exports of soy and corn, Argentina

Posted by TW on September 20, 2018. Watchers.news.

The economy in Argentina declined sharply in the second quarter of 2018 as the country suffers its worst drought in decades and a steep decline in exports of soy and corn. Argentina was once the world’s top exporter of soy and corn.

According to the national statistics agency, the gross domestic product of the country fell 4.2% between April and June, as compared to 2017. It was the worst performance since 2014, the agency said.

“The economy will contract further in upcoming months amid tightening monetary and fiscal conditions, though the expected rebound in agricultural output will prevent a deeper contraction,” the ratings agency Moody’s said in a statement, as reported by MercoPress.

The drought, affecting the country since November 2017, helped drive a steep decline in its exports of soy and corn.

Such consequences on the agricultural sector of the country were expected earlier this year, when the U.S. Foreign Agricultural Service projected Argentina’s soy production to decline 31% and corn by 20% in 2017–2018 compared to the prior growing season.

The economic consequences of the drought have been significant. Between December 2017 and May 2018, corn prices in the U.S. have risen 14%, and soybean prices 8%.

Losses in Argentina are expected to surpass $3.4 billion, making the drought the most expensive natural disaster in 2018 at the time.

In April 2018, grain market analyst Ignacio Iriarte said Argentina’s 53.5 million-head herd would shrink by between 500 000 and 1 million head.

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