Hot dry weather in Argentina.

Argentina like most of her neighbours of South America is currently experiencing a dry weather spell which started early in the Southern Hemisphere.Average daily temperature is between 93 to 101 degree farenheit suitable to boil an egg without the gas stove.

The extreme heat is affecting most of the agriculture crops in most of the major growing areas as agricultural goods whether raw or processed still earn half of Argentine's foreign exchange.
Major agricultural produced were maize,soyabean and corn.
Argentina is one of the world's greatest food-producing exporting countries of the world.
It has a huge topography of arable land and the socio economy is largely dependent on the agrobase industries.

The geography of Argentina include 5 major regions, starting with the rain forest areas of the far-northeast along its border with Brazil; the swampy and flat Chaco plain; the fertile (almost treeless) grasslands of the central Pampas; the lengthy plateau of Patagonia that stretches to Tierra del Fuego, and the Andes Mountains along its western border with Chile.

The Pampas, one of the largest fertile plains in the world, covers almost one third of Argentina's land area. Bordered by mountains and the Atlantic Ocean, the legendary landscape of Patagonia displays huge forests, sizeable mountains valleys, and many cold-water lakes.

The Andes in Argentina contain advancing glaciers including the Perito Moreno glacier, as well as Cerro Aconcagua, the tallest mountain in South America.

Argentina is also home to impressive Iguazu Falls, and over 250 additional waterfalls of size.

Major rivers include the Colorado, Negro, Paraguay, Parana, Salado and Uruguay. The Uruguay and Parana flow together before meeting the Atlantic Ocean, forming the basin of the Rio de la Plata.

Buenos Aires,Cordoba and Santa Fe provinces account for nearly 4.8 million hectares (42%) of total soya bean acreage planted in Argentina.

Corn growing areas were 25 de Mayo and Pehuajo in northwestern Buenos Aires Province,Rio Cuarto and Marcos Juarez,Corral de Bustos in Cordoba,Santa Fe Province (Casilda and Canada de Gomez).

Corn is also roughly twice as expensive crop to grow as soybeans. Producers need hybrid seeds and more of fertilizer, especially urea, to grow higher yielding corn. Costs are approximately US$200 per hectare to grow corn compared to US$100 per hectare for soybeans. When farmer’s use saved seed for soybean, soybeans costs of production decrease by another US$30-40 per hectare.


Analysts said dry conditions in some areas of the country, especially in the south and west of the wheat region, might prevent planting intentions from being fully realised.

Dry weather has already cut hopes for crops in the European Union, Western Australia and, in particular, Kazakhstan and Russia, sending wheat prices jumping on international markets.

Fears are brewing for the coming of a so-called La Nina weather pattern, associated with cooler-than-normal Pacific water temperatures, and typically associated with dry weather in Argentina.
Drought was a big factor in a slump of more than 30% in Argentina's wheat area last year, with farmers also blaming government export curbs, which have been partly relaxed this year.

However, rain in many parts of Argentina's wheat belt has raised hopes among some analysts that the country can avoid significant La Nina damage this year, with the government blaming sowing delays largely on "constant rains" in the province of Buenos Aires.

The Argentine warnings came as analysts revealed further rises in prices of Russian wheat last week, with the grain, free-on-board, attracting $210 a tonne, compared with $198 a tonne a week before.

Russia and Kazakhstan, and potentially eastern Ukraine, are set for further hot and dry weather, with some areas forecast to receive temperatures of up to 42 degrees Celsius.

Tracking the Dow on Friday,06/01/12.
Dow Index Futures 10 marketdays to expiry.
Economic report:Employment situation.
Chinese New Year:23-24January (Dragon Year)

9:30am:--Bearish 50.0 points gap down.
Spillover of weakness in European stocks due to weak economic data.
10:30am:--First hour retracement to resistance from early low.
11:30am:--Breakout into bullish zone ending with a hangman.Better than expected employment data in the United States.
12:30noon:--Shooting star with a hammer.Usual pullback for morning session.
1:30pm:--2nd session started with a low near bear pivot support.
2:30pm:--Resistance breakout but were held back at the bull pivot.Bearish graveyard dojis.
3:30pm:--Day's support breached,spinning doji bull trap.
4:00pm:--Bearish selldown to bear pivot support.
The year started with good news that U.S. jobless rates is now at three years low.The economy is now on track to recovery but the euro zone is putting a brake as caution stepped in again ahead of next week bond sales by Spain and Italy.
There were worries over the rising borrowing costs in some euro zone countries.
The Dow's weekly ending candlestick is still in a bullish inverted hammer mode.
Thursday bearish hangman is hoovering above the weekly support line and was completely filled on Friday.
Despite the volatility,the overall Dow index is holding comfortably in the bullish zone.