Heavy rains improve soybean and corn crop prospects in Argentina

The heavy rains that have hit most of Argentina's agricultural regions will continue for several more days and could improve the prospects for the soybean and corn harvest, the Rosario Grain Exchange reports.

 

The country has received more than 100 mm (3.9 inches) of rainfall in a few days, helping crops recover after drought and abnormal heat in January and February.

 

Argentina is a major global grain exporter, and exports of wheat, corn, and soybean products are the country's main source of foreign exchange earnings.

 

Earlier, against the backdrop of dry and hot weather, exchange experts lowered the forecast for the country's soybean harvest in the 2024/25 MY to 47.5 million tons, and corn to 46 million tons, although the USDA estimates them at 49 million tons and 50 million tons, respectively.

 

Meteorologists predict an increase in rainfall intensity in the coming days, especially in the central, northern and northeastern agricultural regions, which need additional moisture. At the same time, in some areas of the Buenos Aires province, rainfall this week could be very heavy.