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Rain in Argentina Gives Corn a Boost

Argentinean weekly crop report released.

The heart of Argentina's agricultural area received rain Friday morning, which greatly helped the early corn crop that was showing signs of stress from the lack of moisture. According to the Buenos Aires Cereals Exchange, extremely dry weather has caused many farmers to hold off planting part of their corn crop, but this rain will allow them to finish.

The exchange's weekly crop report showed that 86.5 % of the corn crop for the 2007-2008 crop year has been planted. Also as of Friday, 43% of wheat has been harvested, nearly five percent behind last year's pace. However average yields have been higher than last year. The exchange attributes that to extraordinary yields in the northern part of the country, which will help compensate for frost damage losses suffered in southern areas.

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