Recent Rains in Argentina Become a “Turning Point” for Soybean and Corn Crops

Recent heavy rains in most agricultural regions of Argentina are likely to continue over the next few days and have become a “turning point” for the current soybean and corn harvest, the Rosario Grain Exchange reported on Monday.

Over the past few days, more than 100 millimeters (3.9 inches) of precipitation fell on farmland, helping to solidify recovery from the drought and extreme heat that impacted the 2024/25 crop season in late January and early this month.

Argentina is a major grain exporter, and sales of processed soybeans, corn, and wheat are a primary source of hard currency for the central bank’s reserves.

“The rainfall over the past few days marks a pivotal moment in the agricultural cycle,” the BCR report stated.

The report also quoted Cristian Russo, head of agricultural forecasts at BCR, who emphasized the importance of this week’s rains for the health of key grain crops, including in other major agricultural regions.

Earlier this month, BCR lowered its projections for the 2024/25 soybean and corn harvests due to dry conditions and high temperatures during the Southern Hemisphere summer, estimating a soybean harvest of 47.5 million tons and a corn harvest of 46 million tons.

Meteorologist Germán Heinzenknecht, a specialist at the consulting firm CCA, also pointed to the likelihood of more rain in the coming days, including in central, northern, and northeastern agricultural regions, where additional moisture is still needed. He said he expects the final stretch of February to mark a “wet transition” into March.

“The outlook is very favorable in terms of rainfall,” he added, warning that the expected rains this week could lead to heavy downpours in some areas of Buenos Aires Province.