Apr 26, 2023
2022/23 Argentina Soybeans 16.7% Harvested vs. 45% Last Year
Author: Michael Cordonnier/Soybean & Corn Advisor, Inc.
Soybeans in Argentina were 16.7% harvested as of late last week compared to 45% last year. This represents an advance of 12.4% for the week. Soybean yields continue to be very disappointing with the nationwide yield thus far of 1,570 kg/ha (23.3 bu/ac), which is up 1.9 bu/ac compared to the previous week. The Buenos Aires Grain Exchange lowered their soybean estimate last week by 2.5 million tons to 22.5 million.
In the northern core region, the early planted soybeans are 55% harvested and the average soybean yield is 1,780 kg/ha (26.5 bu/ac). In the southern core region, the early soybeans are 42% harvested and the average soybean yield is 1,500 kg/ha (22.3 bu/ac). In western Buenos Aires and northern La Pampa, the early soybeans are 48% harvested and the average yield is 1,720 kg/ha (25.6 bu/ac). In north-central Cordoba, the average yield is 1,300 kg/ha (19.3 bu/ac) with a minimum of 300 kg/ha (4.4 bu/ac) and a maximum of 2,500 kg/ha (37.2 bu/ac).
The yield of the double crop soybeans are not expected to be any better. The expected yields of the double crop soybeans in the northern core, the southern core, and west-central Entre Rios are expected to be in the range of 700 to 850 kg/ha (10.4 to 12.6 bu/ac).
The soybeans in Argentina were rated 64% poor/very poor, 33% fair, and 3% good/excellent. The good/excellent percentage was unchanged from the prior week. The soil moisture for the soybeans was rated 51% short/very short and 49% favorable/optimum. The favorable/optimum increased 3% from the prior week.
Argentina crushers are expected to import as much as 11 million tons of soybeans in 2023 to meet their contracts for soybean meal and soybean oil. The soybeans will be imported from Paraguay, Brazil, and Bolivia.
With the arrival of El Nino over the next few months, everyone in Argentina is hoping for a much better 2023/24 growing season. An El Nino usually results in normal to above normal rainfall in Argentina. If that forecast verifies, the 2023/24 soybean production in Argentina could be as high as 50 million tons.
Below is the soybean condition rating in Argentina from the Buenos Aires Grain Exchange for April 20, 2023.
2022/23 Argentina Soybean Ratings*
| Condition | Soil Moisture | |||
|---|---|---|---|---|
| Poor/V. Poor % | Good/Excellent % | Short/V Short | Favorable/Optimum | |
| 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) |
| Apr. 20, 2023 | 64 (15) | 3 (18) | 51 (20) | 49 (79) |
*Source: Buenos Aires Grain Exchange – Crop Condition & Development Stages