Apr 19, 2023
2022/23 Argentina Soybeans 4.3% Harvested as of Late Last Week
Author: Michael Cordonnier/Soybean & Corn Advisor, Inc.
Soybeans in Argentina were 4.3% harvested as of late last week. This represents an advance of approximately 1% for the week. Approximately 48% of the early planted soybeans are maturing and harvesting should quickly advance this week. Approximately 27% of the late planted soybeans are filling pods.
The question in Argentina for the last several months has been "how low can it go." The closer we get to the end of the growing season and harvesting, the worse the news becomes. Therefore, the 2022/23 Argentine soybean estimate was lowered 2.0 million tons this week to 24.0 million.
Early soybean yields have been disappointing and highly variable with the average yield thus far in Argentina of 1,440 kg/ha or 21.4 bu/ac. In north-central Cordoba, the soybean yields last week were a minimum of 600 kg/ha (9 bu/ac), a maximum of 1,600 kg/ha (23.8 bu/ac) with an average of 860 kg/ha (12.8 bu/ac). In the northern core area, the minimum yield is 1,200 kg/ha (17.8 bu/ac), the maximum is 2,000 (29.8 bu/ac), with an average of 1,680 kg/ha (25 bu/ac). In northern La Pampa and western Buenos Aires, the minimum yield is 1,500 kg/ha (22.3 bu/ac), the maximum is 3,000 kg/ha (44.7 bu/ac), with an average of 2,216 kg/ha (33.0 bu/ac).
The soybeans were rated 65% poor/very poor, 32% fair, and 3% good/excellent as of late last week. The good/excellent percentage was down 1% compared to the previous week. The soil moisture for the soybeans was rated 53% short/very short and 47% favorable/optimum. The favorable/optimum percentage was up 1% compared to the prior week.
WASDE, Buenos Aires Grain Exchange, Rosario Exchange - In the latest WASDE Report, the USDA lowered the 2022/23 Argentina soybean estimate 5.0 million tons to 27.0 million. The Buenos Aires Grain Exchange left their soybean estimate unchanged at 25.0 million tons. The Rosario Exchange lowered their soybean estimate 4.0 million tons to 23.0 million.
Below is the soybean condition rating in Argentina from the Buenos Aires Grain Exchange for April 13, 2023.
2022/23 Argentina Soybean Ratings*
| Condition | Soil Moisture | |||
|---|---|---|---|---|
| Poor/V. Poor % | Good/Excellent % | Short/V Short | Favorable/Optimum | |
| Mar. 9, 2023 | 71 (20) | 2 (31) | 75 (24) | 25 (74) |
| Mar. 16, 2023 | 75 (16) | 2 (33) | 71 (25) | 29 (75) |
| Mar. 23, 2023 | 73 (17) | 2 (29) | 66 (19) | 34 (79) |
| Mar. 30, 2023 | 67 (15) | 4 (31) | 57 (18) | 43 (80) |
| Apr. 5, 2023 | 66 (17) | 4 (26) | 54 (20) | 46 (79) |
| Apr. 12, 2023 | 65 (15) | 3 (24) | 53 (17) | 47 (79) |
*Source: Buenos Aires Grain Exchange – Crop Condition & Development Stages