Apr 05, 2022

2021/22 Argentina Soybeans 4.4% Harvested vs. 0% Last Year

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

Rainfall last week in Argentina was limited to far northern and far southern areas. The forecast for this week is for generally dry conditions across most of Argentina with light showers in far northern and far southern areas.

The most important weather in Argentina last week was a series of frosts in the southern and southwestern regions of Buenos Aires province that will likely have a negative impact on the double crop soybean yields and maybe even the soybean acreage. This is very early for frost and it would be about the equivalent of a frost on the Midwest during late August or early September.

Argentina soybeans were 4.4% harvested as of late last week compared to 0% last year and 7.2% average. The most advanced harvest is the northern core area where 18.6% of the soybeans had been harvested. The early planted soybeans are 68% maturing while the double crop soybeans are 12% maturing. Harvest activity is expected to pick up this week with dryer weather and more of the soybeans reaching maturity.

The early soybean yield is averaging 3,210 kg/ha (47.8 bu/ac), but the range is very wide with a low of 1,000 kg/ha (14.9 bu/ac) and a high of 5,500 kg/ha (81.9 bu/ac) according to the Buenos Aires Grain Exchange. Soybeans were rated 15% poor/very poor, 52% fair, and 33% good/excellent as of late last week. The good/excellent percentage is up 1% compared to the prior week.

The Buenos Aires Grain Exchange left their soybean estimate unchanged this week at 42 million tons, but they indicated that the soybean yields, and maybe even the harvested acreage, could decline due to the frost in the southern areas. The Grain Exchange is very good at telegraphing their intensions, so I would not be surprised at all if they lowered their soybean estimate next week. The Rosario Exchange is estimating the crop at 40.0 million tons and the USDA has the crop at 43.5 million tons.