Recent rains allow Argentina to complete wheat planting in main farmland

BUENOS AIRES, July 25 (Reuters) - Recent rains have allowed Argentine farmers to finish wheat planting for the current harvesting season in the country’s agricultural heartland, according to a report from the Buenos Aires grains exchange (BdeC) released on Thursday.

While wheat planting is complete in all major farmland for the 2024/25 cycle, planting over 6.3 million hectares dedicated to the key grains crop nationwide is 98.5% complete, the weekly report from the BdeC showed.

Agricultural powerhouse Argentina is a major global grains supplier, with sales of cash crops including wheat, corn and soybeans all providing crucial income as well as contributing foreign currency reserves to central bank coffers needed to pay down debts and finance imports.

The latest BdeC report noted that rainfall focused mainly on the center and east of the major agricultural area allowed planting to be completed in both the northern and southern centers.

The exchange added, however, that southern wheat-planted areas have been impacted by cold and dry weather recently.

Meanwhile, harvesting of Argentina's 2023/24 corn crop has advanced quickly over the last week, with nearly 87% of some 7.6 million hectares already picked.

Once completed, the corn harvest is expected to yield 46.5 million metric tons, according to the exchange.

(Reporting by Maximilian Heath; Editing by Alistair Bell)