Core Argentine Farmland Will Likely See Dry Weather Following Recent Storms

BUENOS AIRES (Reuters) - Argentina's main breadbasket will likely face dry weather over the next week after rain storms last weekend brought relief to some farmland, the Buenos Aires Grains Exchange said on Thursday.

Due to months of insufficient rainfall over western and northern areas of the country's main agricultural area, the exchange said in a report it expects impacts to the wheat crop as well as difficulties with early corn planting.

Argentina is a global grains supplier, exporting large quantities of processed soybeans, corn and wheat, with sales providing much-needed foreign currency to pay down debts and finance imports.

According to the exchange's weekly weather report, a large part of the southern cone is expected to see scarce precipitation of less than 10 millimeters (0.39 inch), with some areas likely to receive more moderate rainfall.

Rains last weekend provided between 40 to 50 millimeters of precipitation in eastern and southern parts of the core farmland, providing a needed boost to corn planting, which begins this month.

Farmers are expected to plant 6.3 million hectares with corn this 2024/25 season, which would be a 17% drop from the previous season, the exchange said in a separate report on Thursday.

Corn producers had been hoping for a rebound after crops during the 2023/24 campaign were hit hard by a historic outbreak of the crop-destroying leafhopper pest, which contributed to some 10 million metric tons in losses.

The 2023/24 harvest wrapped up at a total 46.5 million tons, the exchange said.

(Reporting by Maximilian Heath; Editing by David Gregorio and Sandra Maler)