(Updates with Rosario exchange agronomist’s comments in fourth paragraph, corn prices in fifth paragraph.)
Oct. 11 (Bloomberg) -- Corn farmers in Argentina, the world’s second-largest exporter, may finish sowing in the main producing region by the end of the month after rain allowed growers to speed up planting, the Rosario Cereals Exchange said.
Producers have planted about half the corn crop and can resume sowing after a few days of “fantastic” precipitation, said Cristian Russo, an agronomist at the Rosario exchange. The main corn- and soybean-growing areas received as much as 80 millimeters (3.1 inches) of rain in the past four days, the exchange said on its website today.
Some farmers were expected to halt or slow down planting until at least November after a month of below-average rainfall, the Buenos Aires Cereals Exchange said Oct. 3. The main growing region may receive more rain in the next few days, Russo said in a telephone interview from Rosario today.
Rainfall since Oct. 7 was “almost optimum” for the country’s crops, he said. “Now the conditions are right” to finish planting by the end of the month, he said.
Corn futures for December delivery rose 4.5 cents, or 0.7 percent, to $6.095 a bushel at 9:36 a.m. on the Chicago Board of Trade. The U.S. is the world’s biggest corn producer.
--Editors: Jessica Brice, Dale Crofts
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