Nov 15, 2023
2023/24 Argentina Corn 24% Planted vs. 33% Average
Author: Michael Cordonnier/Soybean & Corn Advisor, Inc.
As expected, corn planting advanced only 1.3% last week and it now stands at 24.7% compared to 23.4% last year and 32.8% average. In the core production areas, the corn is 70-75% plated with 25-40% planted in southern Argentina. In far northern Argentina, the corn is 0% planted.
By the end of November, farmers in Argentina will have planted probably less than 30% of their intended corn acreage, which is about 10-15% less than average for the early planting phase. There are already indications that farmers may switch some of their intended corn acreage to soybeans instead. The Buenos Aires Grain Exchange is estimating the corn acreage at 7.3 million hectares, while the USDA is estimating 7.1 million. I have been using 7.0 million hectares. It is too early to say what the final acreage may be, but it is probably going to be less than 7 million hectares.
The corn is rated 10% poor/very poor, 66% fair, and 24% good/excellent. The good/excellent percentage is up 4% from the prior week. The soil moisture for the corn is rated 30% short/very short and 70% favorable/optimum. The favorable/optimum percentage is up 9% from the prior week. Below is the latest rating from the Buenos Aires Grain Exchange.
2023/24 Argentina Corn Ratings*
|Poor/V. Poor %||Good/Excellent %||Short/V Short||Favorable/Optimum|
|Oct. 26, 2023||24 (35)||15 (10)||41 (42)||59 (58)|
|Nov. 2, 2023||13 (38)||20 (6)||39 (39)||61 (61)|
|Nov. 9, 2023||10 (34)||24 (9)||30 (42)||70 (56)|
*Source: Buenos Aires Grain Exchange – Crop Condition & Development Stages