March 17, 2023


Argentina's corn and soybeans may receive rain next week



The Buenos Aires Grains Exchange said Argentina's corn and soybeans may receive some much-needed rainfall next week, the beginning of a gradual recovery from an unprecedented drought that has severely impacted crops, Nasdaq reported.


According to a report from the exchange, rainfall amounts could range from 10 mm to 75 mm (0.4-3 inches), with some areas experiencing up to 100 mm.


The severe drought has affected Argentina's agricultural producers, and this season's soybean harvest is anticipated to reach a maximum of 27 million tonnes, the lowest in almost 25 years.


German Heinzenknecht, a meteorologist, said the rains could be the start of a return to normal after the drought that has lasted for almost a year as a result of the La Nina weather phenomenon.


Heinzenknecht said the country will experience more frequent rainfall as the seasons change at the end of March and into April.


He predicted that the La Nina climate pattern will shift to a "neutral" position in the jet stream along the Equatorial Pacific, bringing back some rains.


Heinzenknecht said the weather may not be ideal for wheat and barley planting at the end of May, but it will be much better than current conditions.


the Buenos Aires Grains Exchange said "cold and dry polar winds" are also expected to also hit the nation next week.


-      Nasdaq

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