Jan 27, 2023

Argentina Crops Receive Beneficial Rains, but More is Needed

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

After months of drought, farmers in Argentina received the best rains of the growing season last week and over the weekend. Rainfall amounts were better than forecasted, but the distribution of the heavier amounts of rain was uneven.

According to the Rosario Grain Exchange, the heavier amounts were recorded in La Pampa, northwest Buenos Aires, and Salta. However, only 15% of the Pampas region received more than 45 mm (1.8 inches). Only 15% of Buenos Aires received over that amount, 10% of La Pampa, 5% of Santa Fe, and 3% of Cordoba. Some areas received no rain at all.

These rains did not end the drought in Argentina and more rains are needed as soon as possible. Yields of the earlier planted crops have suffered the most harm and the crops were too far along in their development for any significant improvement in yields. Yields of the later planted crops could improve if they continue to receive adequate moisture.

In their latest report, the Buenos Aires Grain Exchange reported that 98.8% of the 2022/23 soybeans had been planted compared to 100% last year and 99.9% average. The soybeans are rated 54% poor/very poor, 39% fair, and 7% good/excellent. The good/excellent percentage is up 4% compared to the prior week.

The 2022/23 Argentina corn crop is 94% planted compared to 94.4% last year and 96.6% average. The corn is rated 39% poor/very poor, 49% fair, and 12% good/excellent. The good/excellent percentage is up 7% from the prior week.