Nov 03, 2021

2021/22 Argentina Corn 27.6% Planted vs. 35.6% Average

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

The corn crop in Argentina was 27.6% planted as of late last week compared to 28.8% last year and 35.6% average. This represents an advance of only 1.3% for the week and the corn planting is now 8% behind average. The Grain Exchange is estimating the corn acreage at 7.1 million hectares (17.5 million acres), which is up 500,000 hectares from last year (1.2 million acres).

In the core production areas, the corn is about 85% planted with 10-35% planted in southern Argentina and 0% planted in far northern Argentina. The first phase of corn is 58% planted compared to 66% average.

The corn is rated 27% fair and 73% good/excellent. The good/excellent rating is up from last week's 65%. The soil moisture for the corn is rated 24% short and 76% favorable. The favorable rating is up from last week's 72%.

Farmers in Argentina plant their corn in two phases with the first phase planted in September and October and the second phase planted in December and January. Farmers usually plant 35-45% of their corn during the first phase and 55-65% during the second phase. At the current planting pace, it looks like only about 30% of the corn will be planted during the first phase. The question now is will they plant 70% of their corn during the second phase or will they plant less corn than what had been expected.

Metrologists in Argentina are forecasting La Nina to result in dryer-than-normal weather in November-December-January. If the forecast verifies, farmers in Argentina may think twice before planting an expensive corn crop into dry conditions. Therefore, I think the Argentina corn acreage may still be in flux and we will not know the final corn acreage until sometime in January.