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A heat wave pushed temperatures near 40°C in Argentina while key agricultural regions need 70-80 mm of rain, with no significant relief expected until February. Forecasters expect corn yield cuts, with early-planted corn hit hardest, and sorghum yields reported at 2.5 t/ha versus 7 expected.
Some areas received 60-70 mm of rain over the weekend.
Expected corn and sorghum yield losses from Argentina, the third-largest corn supplier, tighten export supplies and support feed grain prices, while pasture losses could boost feed demand for livestock.
ukragroconsult.comJan 29, 2026After 1,465 past bullish weather events, Corn moved a median +0.2% over 5 sessions (54% higher; middle half -1.4% to +1.9%), and +0.9% over 20.
Not enough comparable past events yet for a historical read.
After 1,079 past bullish weather events, Soybeans moved a median +0.3% over 5 sessions (54% higher; middle half -1.4% to +2.0%), and +0.9% over 20.
After 453 past bullish weather events, Soybean Meal moved a median +0.5% over 5 sessions (55% higher; middle half -1.6% to +2.7%), and +0.5% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
