BUENOS AIRES, March 13 (Reuters) - Argentina's main agricultural area will likely receive more precipitation in the next few days, adding to already significant recent rainfall, according to a report from the Rosario grains exchange (BCR) released on Wednesday.
The report said precipitation so far in March had already exceeded the average for the entire month.
Excessive rain could lead to soybean crop losses but likely benefit wheat planting, German Heinzenknecht, a meteorologist at the Applied Climatology Consulting Firm (CCA), said on Tuesday.
Argentina is a top global producer of processed soybeans, as well as other key grains crops including corn and wheat. Sales of these commodities represent a key source of revenue for the local economy, plus much-needed hard currency for central bank coffers.
In the BCR report analyst Florencia Poeta said average March rainfall over the South American country's core farmland currently stands between 100-200 millimeters (3.9-4.7 inches).
"It's expected that the rains continue through Thursday and Friday," she added.
A storm front is forecast to move north, said Cindy Fernandez, a meteorologist at Argentina's National Meteorological Service (SMN), bringing an expected 100-150 millimeters of rain to northern parts of the Santa Fe, Cordoba, Entre Rios and Corrientes provinces.
Later on Wednesday, the exchange will publish its monthly crop report, including its latest production forecasts.
The BCR's current 2023/24 soybean crop estimate stands at 49.5 million metric tons, and the 2023/24 corn crop at 57 million tons. (Reporting by Maximilian Heath in Buenos Aires and Horacio Soria; Editing by Nia Williams)
