In recent hours, heavy rains have drenched the most drought-affected parts of Argentina’s main agricultural region, according to the Rosario Grain Exchange on Wednesday. This welcome precipitation brings much-needed relief to soybean and corn crops.
Recent Rainfall Pattern
The latest showers are part of a series of storm fronts that have swept through the region in recent days, targeting areas still in desperate need of moisture.
“The rains hit the extreme northwest of the region, an area that was left out of last week’s showers and really needed these millimeters (of precipitation),” the exchange said in a weather report.
Argentina’s Agricultural Significance
Argentina stands as the world’s largest exporter of soybean oil and meal and ranks third in corn exports. The Rosario Grain Exchange estimates the country’s corn harvest at 48 million metric tons, while the soybean crop is expected to fall below 53 million tons. The exchange will release its monthly crop report on Wednesday afternoon, potentially revising these estimates.
Relief in Brazil
In Brazil, soybean and corn crops in Rio Grande do Sul have also suffered from recent hot and dry conditions. However, rains are forecasted in the coming days, which should partially alleviate the drought stress, according to Itaú BBA.
Conversely, the bank’s report notes that weather maps indicate the central region of Brazil will experience open skies for the next two weeks. This break in precipitation will allow for the rapid advancement of soybean harvesting and the planting of the second corn crop.
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