Rains stop worsening of Argentina's soy, corn crops

BUENOS AIRES, Feb 15 (Reuters) - Abundant rains that fell on most of Argentina's agricultural regions in recent days have stopped the deterioration of the country's soy and corn crops due to hot and dry weather, the Buenos Aires Grains Exchange said on Thursday.

Between 45 mm and 100 mm (1.8 inches and 3.9 inches) of precipitation was seen in the key Pampas growing region from Saturday to Tuesday, a separate exchange said earlier this week, bringing relief to the country's two major exports.

The improved soil moisture due to the rains has boosted the early planted soybean crop, which is "going through a period of defining yields," and the later-planted crop, "which has suffered losses," the Buenos Aires exchange said in a weekly grains report.

After the rains, 73% of the planted soybean area had between "optimal" and "adequate" soil moisture, up from 60% a week ago, the exchange, which sees the harvest at 52.5 million metric tons, said.

Rains also came in time to prevent the corn crop from worsening, the exchange said, though planting areas in the agricultural south were particularly hit by the heat and lack of water. The Buenos Aires Grains Exchange estimates this season's corn harvest at 56.5 million tons.

"For the later-sowed crop, mainly in the province of Cordoba, the impact (of the rains) will be evaluated over the coming weeks," the exchange said.

Harvesting of both crops is set to kick off between April and May. (Reporting by Maximilian Heath; Writing by Kylie Madry; Editing by Chizu Nomiyama)