Hot and dry weather continues to damage crops in Argentina and southern Brazil. Last week was the third-hottest and the overall driest third week in January in more than 30 years for the main soybean-growing regions in Argentina. The drought stress has combined with extremely hot temperatures to significantly drop the expected corn and soybean yields in Argentina. Agriculture Dot Com says more rain is in the forecast during the coming weeks, but the bad news is that the rains are too late to help crops. Mato Grosso, the top-producing state in Brazil saw near-normal rain last week. However, hot and dry conditions are expected to stick around and continue to damage yields in southern Brazil. When this week is over it may go down as one of the hottest and driest weeks in more than 30 years in Rio Grande do Sul near the southern border.