Reports are that it's raining again in Argentina.. why does that matter?

( http://www.soybeansandcorn.com/Argentina-Crop-Cycles )

Reports.. ( http://www.soybeansandcorn.com/news/Jan4_17-Argentina-Corn-Crop-needs-Dryer-Weather-to-Complete-Planting )

Argentina Corn Crop needs Dryer Weather to Complete Planting

The problem with the corn crop in Argentina is the same as with soybeans - heavy rains that have resulted in localized flooding and delayed planting. In the hardest hit areas, the heavy rains and localized flooding will require some of the corn to be replanted if it dries up in time. The flooding was in the central production areas where generally the first corn is planted in Argentina, so replanted corn in central Argentina would make the crop very late indeed.

Outside of the saturated areas, Argentine farmers did make progress planting their corn last week which now stands at 71% planted. There are still about 1.4 million hectares of corn left to plant in Argentina with 80% of the corn that is left to plant in northern Argentina and 15% in southern Argentina. That 1.4 million does not include any corn that may need to be replanted. The time to plant corn in central Argentina has long passed, so it remains to be seen if the farmers will replant the corn that was flooded.

The good thing about the corn crop in Argentina is that 80% of the corn left to plant is in northern Argentina, which is outside of the saturated zone. The vast majority of the corn in Argentina is rated good to very good, so the yields for most of the corn should be fine. In a worst case scenario, maybe 5% of the corn in Argentina might be lost to flooding or not get planted in the first place. That would equate to maybe 2 million tons of production, but these are just guesses at this point.