Nov 16, 2022
2022/23 Argentina Corn 23.4% Planted vs. 35.2% Average
Author: Michael Cordonnier/Soybean & Corn Advisor, Inc.
The recent weather in Argentina has improved. Rains were active across much of Argentina over the weekend with moderate to heavy amounts in La Pampa, Buenos Aires, Cordoba, and Santa Fe. Amounts were between 1-2 inches with an isolated 5 inches in Cordoba. Most areas of Argentina are forecasted to receive 1-2 inches of precipitation early this week, which will continue to help improve the soil moisture.
The corn in Argentina was 23.4% planted as of late last week compared to 29% last year and 35.2% average. This represented an advance of only 0.5% for the week. In the core production area, the corn is approximately 70% planted with 30-40% planted in southern Argentina and 0% planted in far northern Argentina. The early planted corn is 55% planted.
At the current planting pace, approximately 25-26% of the corn will be planted by the end of November, which is very slow. The soil moisture has improved in Argentina, so there should be an improved environment to plant the later corn starting in late-November or early December, so approximately three quarters of Argentina's 2022/23 corn will be planted late. Later planted corn usually yields 10-15% less than early planted corn, but the weather later in the growing season will determine if that holds true this growing season.
The 2022/23 corn in Argentina is rated 34% poor/very poor, 57% fair, and 9% good/excellent. The good/excellent percentage is up 3% compared to the prior week. The soil moisture for the corn is rated 42% short/very short and 58% favorable/optimum. The favorable/optimum percentage is down 3% compared to the prior week.
In their November WASDE Report, the USDA left their 2022/23 Argentina corn estimate unchanged at 55.0 million tons.