The Argentina soybean crop was looking great going into harvest and now is losing yields quickly with day after day of steady rainfall, especially over northeastern growing areas. The next 48 hours will bring more heavy showers across the eastern growing belts, with amounts of 1-3+”, continuing to drown mature soybean crops. There will be a sharp line where the precipitation ends, so drying over southern soybean fields. But overall, additional losses to estimates expected in the weeks ahead. There will be a bit of a break in about three days for damage assessment, but more rains could be looming. Image above shows 48-hour rainfall totals. Note Brazil is hot and dry, stressing late planted 2nd crop corn.
Also today, rains are tracking across the US corn and soybean belt.
