Rains in Argentina should favor soybean and corn crops, says stock market

Published Feb 22, 2024

Tridge summary

Argentina's Pampas region is expected to see a boost in the 2023/24 soybean and corn harvests due to forecasted rainfall, according to the Buenos Aires Grain Exchange. The rain will primarily affect the north of the country's main agricultural lands, including the northern Pampas and parts of the Mesopotamia region. As a significant exporter of soybeans and supplier of corn and wheat, Argentina relies on summer precipitation for crop growth. The 2023/24 cycle is projected to yield 52.5 million metric tons of soybeans and 56.5 million tons of corn.
Disclaimer: The above summary was generated by a state-of-the-art LLM model and is intended for informational purposes only. It is recommended that readers refer to the original article for more context.

Original content

BUENOS AIRES (Reuters) - Rain forecast in the coming days in Argentina's Pampas region will likely boost the 2023/24 soybean and corn harvests, although precipitation will largely fall in the north of the country's main agricultural lands, according to a report on Wednesday. The climate report from the Buenos Aires Grain Exchange (BdeC) pointed to "moderate to abundant" rainfall of around 25 to 100 millimeters expected in the northern Pampas region, as well as in northern parts of the Argentine region known as Mesopotamia, around from the provinces of Misiones and Corrientes. Across southern areas of the country's most productive farmland, moderate to little rainfall is forecast, according to the BdeC report, but is unlikely to exceed 25 millimeters. Argentina, an agricultural powerhouse, is one of the world's largest exporters of soybeans, as well as an important supplier of corn and wheat. Precipitation during the southern hemisphere summer is essential for crop development. ...
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