Argentina's drought continued in the past week, with both corn and soybean crops suffering losses even after sporadic rain helped reduce damage in some areas.
Farmers in some parts of the Cordoba province where corn harvesting has begun estimate their losses at 10-20pc because of the drought and high temperatures, the Secretariat of Agriculture, Livestock and Fisheries (SAGyP) said.
Corn in parts of the country where rain has been more plentiful was in good-to-very-good condition, though most areas need more rain to avoid losses, SAGyP said. The crop in harder-hit areas is in worse shape and showing low yields where harvesting has started.
Yields ranged from 6.4-7 metric tonnes/hectare (t/ha) in areas where harvesting has begun, down from the average national yield last year of 7.15t/ha, the Buenos Aires Grain Exchange (Bage) said. Corn planting finished in the week through 11 February, according to Bage.
Plentiful rainfall in much of the second half of 2025 raised soil moisture levels across Argentina's agricultural areas, boosting wheat production to a record and spurring hopes of high yields for both corn and soybeans.
The soil moisture left behind after the months of above-average rain has so far mitigated the impact of the drought. Participants still expect a record corn crop despite Bage trimming its forecast by 1 mn t to 57mn t last week because of the drought.
Soybean losses in core region
Argentina's so-called core agricultural area is facing the loss of more than 500,000t of soybeans after the drought and hot weather have hit yields, the Rosario Board of Trade (BCR) said.
The area consists of parts of the northern Buenos Aires province and of the southern Santa Fe and Cordoba provinces.
Total production of the oilseeds in the area will be about 600,000t below the expectations of just a few months ago, with average yields in the core of close to 3.8 t/ha instead of the 4 t/ha forecast before the drought began, BCR said.
BCR expects the 2025-26 soybean crop at 48mn t, less than the 49.5mn t produced in 2024-25 and far below the record 60.1mn t crop grown in 2014-15. Still, that is 1mn t more than BCR's preliminary projection from September.
Soybean losses could nevertheless range from 20-60pc in some parts of Argentina and fields in areas with the worst drought conditions are unlikely to be harvested at all, BCR said.
