Spencer, IA: (Jan. 04, 2011) - Brokerage firm R.J. O’Brien says hot & dry weather has cut corn harvest potential in Argentina by 5 to 7 million tons and the soybean harvest by 3 million tons.

 

O’Brien’s Vice President for Research Rich Feltes says the weather in Argentina “just looks too threatening.” The firm based it’s estimate on a crop scout’s tour of key growing areas in the South American country.

 

Forecasters say Argentina will remain hot and dry for the rest of this week. The corn is especially vulnerable because it is in the key yield-determining pollination phase of development.

 

Feltes says the Argentine crop “is still going downhill.”