Nov 08, 2023

2023/24 Argentina Corn 23.4% Planted vs. 32.2% Average

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

Argentina's weather has improved during the last several weeks and the forecast looks generally favorable.

The Argentina corn was 23.4% planted as of late last week compared to 22.9% last year and 32.2% average. This represents an advance of 1.4% for the week. In the core production areas, the corn was 65-70% planted while 20-35% was planted in southern Argentina and 0% in far northern Argentina.

Argentina's first phase of corn planting is now past and the corn planted percentage will increase only about 1% per week until the end of November. The planting pace will pick up again in late November and early December. Later planted corn in Argentina can have yields equal to early planted corn if the weather cooperates. The concern this year is that there will be a higher percentage of the corn planted late, which could increase the risk of adverse weather. Ideally, you would like to have about a 50-50 split between early and late planting to even out the risks.

The percentage of the corn planted during the early phase is going to be down approximately 10% from initial expectations which begs the question, will farmers increase the amount of corn planted during the second phase, or will they switch some the corn to soybeans instead.

The corn is rated 13% poor/very poor, 67% average, and 20% good/excellent. The good/excellent is up 5 points from the prior week. The soil moisture for the corn is rated 39% short/very short and 61% favorable/optimum. The favorable/optimum is up 2 points from the prior week.