Dry weather will favor soy, corn planting in Argentina in coming days

Argentina’s core farming heartland will receive little or no rain over the next few days, which will help the progress of soybean and corn planting, the Buenos Aires grains exchange said on Wednesday.

Argentina is one of the world’s top two exporters of soybean oil and meal, and the third largest exporter of corn. Dry conditions will allow farmers to move forward with planting both crops, which get delayed during periods of wet weather.

“Most of the Pampean region (Argentina) and southern Uruguay will see low rainfall (less than 10 millimeters)” in the next seven days, the exchange said in its weekly weather report, adding that normal temperatures for the southern summer are also expected during that period.

On Tuesday, the Rosario grainsexchange (BCR) said in its monthly weather report that moderate summer rains and temperatures will help the 2023/24soybean and corn crops in Argentina during January, due to the presence of the El Nino weather phenomenon.

The BCR will release its monthly crop status report on Wednesday, updating its production estimates for soybeans and corn, now at 50 million and 56 million metric tons respectively.
Source: Reuters (Reporting by Maximilian Heath; Writing by Steven Grattan; Editing by Jonathan Oatis)