Jul 19, 2023

2022/23 Argentina Corn Estimate Unchanged at 35.0 Million Tons

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

The 2022/23 Argentina corn estimate was left unchanged this week at 35.0 million tons and I have a neutral to slightly lower bias going forward.

Corn in Argentina was 58% harvested as of late last week compared to 58% last year and 69% average. This represents an advance of 6% for the week. The early planted corn was 70% harvested, while the later planted corn was 50% harvested. Dryer weather in western Argentina allowed for a more rapid harvest pace.

The nationwide corn yield thus far is 4,940 kg/ha (78.5 bu/ac) with a low of 2,490 kg/ha (39.5 bu/ac) in Entre Rios and a high of 6,400 kg/ha (101.7 bu/ac) in southeastern Buenos Aires.

The Buenos Aires Grain Exchange left the 2022/23 Argentina corn estimate unchanged at 34.0 million tons. In the July WASDE Report, the USDA lowered the 2022/23 Argentina corn estimate 1.0 million tons to 34.0 million. Below is the corn harvest pace in Argentina (black line) from the Buenos Aires Grain Exchange.