Nov 13, 2018

Approximately 10% of Argentina's Soybeans have been Planted

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

After a somewhat so-so start to the growing season, the weather has improved in Argentina. The dry pockets in the western production areas have shrunk as repeated episodes of rainfall have moved across the country. There were heavy rains across central Argentina over the last three days with some areas receiving up to 10 inches and it is still raining in some areas. I am expecting to hear of some localized flooding and there could be some early planted soybeans that will need to be replanted. In a worst case scenario, maybe 25% of the soybeans and 20% of the corn in Argentina might be impacted in some way by the heavy rains.

Farmers in Argentina had planted 9.4% of their soybeans as of late last week according to the Buenos Aires Grain Exchange. This represents an advance of 5.7% for the week and it is 2.6% slower than last year, but 2.5% ahead of the 5-year average. More than half of the soybeans that have been planted are in the northern core and southern core regions where 15-20% of the total soybean crop has been planted. In southern Argentina, the soybeans are 0-10% planted and no soybeans have been planted in far northern Argentina.

Now that we are approaching mid-November, the soybean planting pace in Argentina should start to advance rapidly, especially since the weather is improving. The Buenos Aires Grain Exchange has not yet started to rate the soybean crop. When they do start, I think the ratings will be fairly good especially since the weather has been improving in recent weeks.