Argentine showers help corn, soy planting, more rain needed -exchange

BUENOS AIRES, Jan 21 (Reuters) - Argentine soy and corn planting sped forward over the last week, helped by rain that moistened fields parched by months of dry weather, the Buenos Aires Grains Exchange said on Thursday.

More moisture was needed over the short term to ensure good yields for the 2020/21 crop, the exchange said in a report.

Some 98.6% of this season's soy, and 93.4% of corn is planted, the exchange said in the report. The showers over the last week were centered in the northern and eastern farm belt.

"Rainfall during the last seven days improved the water supply. To date, 7.8% of prime soy areas are starting critical pod formation period, concentrated toward the center of the country," the exchange said.

"The region depends on more rainfall over the short term to sustain the improvement registered in the previous days," it said.

Earlier-planted corn areas were also going through critical yield formation stages, it said.

"The rains improved water levels, slowing down the deterioration in early plantings and improving the panorama for later sowings," the exchange said.

(Reporting by Hugh Bronstein and Maximilian Heath; Editing by Bill Berkrot)

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