Argentina rains to bring more relief to soy and corn crops

Copious rains in the coming days will continue to provide moisture to most of Argentina’s agricultural regions, favoring soybean and corn crops planted in the 2023/24 cycle, the Buenos Aires grain exchange (BdeC) said on Wednesday.

Argentina is one of the world’s largest exporters of soy meal and the world’s third largest supplier of corn.

In the coming days, most of South America’s southern cone will observe moderate to abundant rainfall, the exchange said in its weekly crop report, although Argentina’s agricultural southwest will like received less than 10 millimeters (0.4 inches) of rain.

The rainfall will likely add to the adequate precipitation levels that have been falling in Argentina since the beginning of the month, following a heat wave that damaged crops.

Both the soy and corn crops are already fully planted and harvesting is set to begin in April.

The grains exchange sees the 2023/24 soybean harvest standing at 52.5 million metric tons and the corn crop at 56.5 million tons.

Tags: soybeans, precipitation, Argentina, rains, soy meal, harvest, corn