This past weekend saw some very timely and beneficial rains in central Argentina easing stress to corn and soybeans after hot and dry weather last week. The outlook calls for some additional showers and thunderstorms and no severe heat during the next seven days favoring crops, especially pollinating corn.
Crop conditions in Brazil are favorable with mostly adequate soil moisture for developing soybeans except in the northeast growing areas of Bahia where dry weather is increasing crop stress. We do expect to see additional showers and thunderstorms in the southern growing areas during the next seven days. Warmer, drier weather is expected in central Brazil. This will be favorable for maturing soybeans and any early harvesting. Pod filling soybeans will continue to benefit from adequate soil moisture.
Our latest calculation of the sea surface temperature departure in the eastern equatorial Pacific for the first half of January is minus 1.2 degrees Celsius. This is lower than the minus 0.7 Celsius departure observed during the month of December and indicates a cooling trend. This situation continues to bear watching as La Ninas do tend to correlate with drought in central Argentina and southern Brazil. However, there are no signs of a significant hot and dry pattern developing, at least through the end of January.
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