Apr 17, 2024
2023/24 Argentina Soybeans 10.6% Harvested
Author: Michael Cordonnier/Soybean & Corn Advisor, Inc.
Rains were active across Argentina over the weekend with the heaviest rains favoring central Santa Fe and central Buenos Aires. Rains will remain active across eastern and southern Argentina for the next few days. The wet weather will slow the harvest progress but be beneficial for the later planted soybeans.
Soybeans in Argentina were 10.6% harvested as of late last week, which represented an advance of 8.7% for the week. The average nationwide yield thus far is 3,570 kg/ha (53.1 bu/ac), but the range in yields is quite wide. In the core production areas, the yields are in the range of 3,980 kg/ha (59.3 bu/ac), while in southern Buenos Aires, southern La Pampa, and north-central Cordoba, they are in the range of 2,520 kg/ha (37.5 bu/ac). The Buenos Aires Grain Exchange warned of potential declining soybean yields in northern Argentina, north-central Cordoba, western Buenos Aires, and northern La Pampa.
The 2023/24 Argentina soybean estimate was left unchanged this week at 51.0 million tons and I have a neutral bias going forward. The Buenos Aires Grain exchange lowered the soybean estimate last week by 1.5 million tons to 51.0 million. The USDA left the Argentina soybean estimate unchanged last week at 50.0 million tons.
The soybeans in Argentina were rated 22% short/very short, 47% fair, and 31% good/excellent as of late last week. The good/excellent percentage was up 1% from the prior week. The soil moisture for the soybeans was rated 27 short/very short, 72% favorable/optimum, and 1% saturated. The favorable/optimum percentage was up 1% from the prior week. Below is the soybean harvest progress for Argentina for April 11, 2024 from the Buenos Aires Grain Exchange.
Below is the Argentina soybean rating for April 11, 2024 from the Buenos Aires Grain Exchange.
2022/23 Argentina Soybean Ratings*
| Condition | Soil Moisture | |||
|---|---|---|---|---|
| Poor/V. Poor % | Good/Excellent % | Short/V Short | Favorable/Optimum | |
| Mar. 6, 2024 | 17 (60) | 29 (3) | 28 (73) | 72 (27) |
| Mar. 13, 2024 | 16 (75) | 30 (2) | 23 (70) | 77 (30) |
| Mar. 21, 2024 | 16 (72) | 31 (2) | 21 (65) | 78 (35) |
| Mar. 27, 2024 | 21 (74) | 29 (2) | 26 (52) | 74 (48) |
| Apr. 4, 2024 | 21 (66) | 30 (3) | 28 (53) | 71 (47) |
| Apr. 11, 2024 | 22 (65) | 31 (3) | 27 (55) | 72 (45) |
*Source: Buenos Aires Grain Exchange – Crop Condition & Development Stages