Argentina Rains Help Parched Corn, Soy Crops, Exchange Says

Downpours in Argentina are improving the condition of drought-hit corn and soybean crops in the Pampas agricultural zone, a climatologist for the Rosario Cereals Exchange said by telephone today.

The rains will continue for most of the week, benefiting corn and soybean crops, Jose Luis Aiello said. The damage caused by dry weather is irreversible in some areas, he said.

“This is going to improve the situation of late season corn crops,” Aiello said. “And the soybeans that were recently planted are going to be better.”

The weather pattern known as La Nina has brought hot, dry weather to Argentina, Brazil and Mexico, scorching recently planted crops. The drought in Argentina is similar to one last year in the U.S. that caused corn production to miss forecasts by about 10 percent, Rick Tolman, chief executive officer of the National Corn Growers Association, said Jan. 26.

To contact the reporter on this story: Matthew Craze in Santiago at mcraze@bloomberg.net

To contact the editor responsible for this story: Dale Crofts at dcrofts@bloomberg.net