BUENOS AIRES, Feb 25 (Reuters) - Rains in the last few days in Argentina's main crop belt arrived just in time to avert serious damage to soy and corn crops after weeks of dry weather in the world's No. 3 exporter, a meteorologist said on Monday.
Scant rainfall from early January until the middle of last week pushed global grains prices higher on supply concerns and spurred analysts to trim their production estimates. Many crops are passing through yield-defining growth stages.
"From last Friday until now, there has been some decent rain, especially in the main agricultural belt. That means the damage has been limited and moisture levels have been restored," said Eduardo Sierra, a climate adviser to the Buenos Aires Grains Exchange.
"This should consolidate production expectations," he added.
The grains exchange expects soy and corn output of 50 million tonnes and 25 million tonnes, respectively. The U.S. Department of Agriculture sees production at 53 million tonnes and 27 million tonnes.
According to the latest weather report by the Rosario grains exchange, between 5 millimeters and 25 millimeters of rain fell across the country's main grains-producing region during the weekend alone.
Argentina's most-productive farming area straddles northern Buenos Aires and southern Santa Fe, Cordoba and Entre Rios.
"This week we're going to see some more rain and that means we're virtually safe to say 'we've made it,'" Sierra said.
The agriculture ministry said last week that showers had helped revive wilting soybean crops but that many were still in urgent need of rain.
Global soy prices rose slightly on Monday after falling to extend a sharp drop on Friday, pressured by rains in Argentina, which is also the world's biggest supplier of soymeal and soyoil.
0 comments:
Posting Komentar