Feb 21, 2023
Early Argentina Corn Yields Reported to be Below Expectations
Author: Michael Cordonnier/Soybean & Corn Advisor, Inc.
The weekend frost appeared to hurt the soybeans more than the corn. Argentina received some rain last week, but they also had record high temperatures at the start of the week and record low temperatures in southwestern Argentina last Saturday morning with reports of light to moderate localized frost. It is too early to judge if any damage was done to the corn, but it certainly did not help the crop.
Early corn harvesting has started in Santa Fe and Entre Rios and initial yields are reported to be below expectations, which is no surprise given the ongoing problems in Argentina. The corn harvest is focused on central Argentina where the corn was planted earliest. Hot and dry conditions during the critical reproductive phase hurt the early planted corn which is approximately 20% mature. The later planted corn may have been hurt by the recent high temperatures and record low temperatures, but it will take a while to be sure. The late planted corn is approximately 50% pollinating.
The corn in Argentina was rated 45% poor/very poor, 44% fair, and 11% good/excellent as of late last week. The good/excellent percentage is down 9 points from the prior week. The soil moisture for the corn was rated 55% short/very short and 45% favorable/optimum. The favorable/optimum percentage is down 9 points from the prior week.
The Buenos Aires Grain Exchange left their corn estimate unchanged last week at 44.5 million tons but warned that it might move lower in subsequent reports. Below is the corn condition rating in Argentina from the Buenos Aires Grain Exchange for February 16, 2023.
2022/23 Argentina Corn Ratings*
| Condition | Soil Moisture | |||
|---|---|---|---|---|
| Poor/V. Poor % | Good/Excellent % | Short/V Short | Favorable/Optimum | |
| Jan. 5, 2023 | 32 (20) | 13 (41) | 39 (37) | 61 (63) |
| Jan. 12, 2023 | 47 (36) | 7 (23) | 60 (53) | 40 (47) |
| Jan. 19, 2023 | 47 (37) | 5 (22) | 57 (45) | 43 (55) |
| Jan. 26, 2023 | 39 (29) | 12 (31) | 49 (28) | 51 (69) |
| Feb. 2, 2023 | 32 (28) | 22 (28) | 44 (27) | 56 (72) |
| Feb. 9, 2023 | 34 (25) | 20 (28) | 46 (24) | 54 (76) |
| Feb. 16, 2023 | 45 (26) | 11 (20) | 55 (28) | 45 (71) |
*Source: Buenos Aires Grain Exchange – Crop Condition & Development Stages