Dec 22, 2020

Recent Rains give Temporary Reprieve to Dryness in Argentina

Author: Michael Cordonnier/Soybean & Corn Advisor, Inc.

The recent rains will give a temporary reprieve to the dryness in Argentina, but the forecast is calling for a return of dryer and hotter weather. I still maintain a lower bias for the soybean estimate due to the irregular weather.

Much of Argentina received rain late last week and over the weekend with amounts ranging from 0.5 to 1.25 inches with the heavier amounts in northeastern Argentina and the lighter amounts in western Argentina. The rainfall will lead to some temporary improvements in the soil moisture, but the forecast looks worrisome. Dryer weather is expected to return to Argentina this week and maybe next week with temperatures in the low 90's. Moisture stress is expected to increase especially in the western and southwestern areas.

The soybeans in Argentina were 67.8% planted late last week compared to 70% last year and 74.6% average according to the Buenos Aires Grain Exchange. This represents an advance of 10% for the week. In the core production areas, the soybeans were 90-95% planted while 45-55% of the soybeans had been planted in southern Argentina and 10-20% in northern Argentina.

The first crop soybeans were 81% planted and the double-crop soybeans were 39% planted. A few percent of the first crop soybeans are starting to flower.

The soybeans were rated 5% poor to very poor, 45% fair, and 50% good to excellent. The good to excellent percentage compares to 55% last week and 53% last year. The soil moisture for the soybeans was 31% short to very short and 69% favorable to optimum. The favorable to optimum compares to 70% last week and 85% last year.