Abundant rains lift Argentina soy, corn crops

Plentiful rains in recent days across Argentina’s main growing regions have provided much-needed relief to the country’s soy and corn crops, which had been punished by a heat wave and dry weather in the weeks before, the Rosario grains exchange said on Wednesday.

The South American nation, a top exporter of both crops, is expected to bring in 52 million metric tons of soy and a record 59 million tons of corn in the season, the exchange estimates.

“After weeks of heat and growing concern for the crops, over the long weekend (due to the Carnival holiday) rains finally hit the core growing region,” the exchange said in a weather report.

In the key Pampas region, between 45mm and 100mm (1.8 inches and 3.9 inches) of rains were recorded.

“What we’re waiting to see now is what the crops’ reaction will be,” exchange analyst Cristian Russo said in the report.

Further rains are not expected over the next few days, the exchange said, giving growers time to examine their crops.

Tags: soybean, Argentina, corn