Dec 12, 2023
2023/24 Argentina Corn 40% Planted, 36% Rated Good/Excellent
Author: Michael Cordonnier/Soybean & Corn Advisor, Inc.
Approximately 60% of the corn still must be planted in Argentina and it is uncertain if all the intended corn will be planted or if some may be switched to soybeans instead. Since I am already on the low end of the estimates, I decided to leave the Argentina corn estimate unchanged this week.
Rainfall last week in Argentina favored the northern and eastern areas. The rainfall improved the soil moisture; however, some dryness is still lingering in western Buenos Aires, northern La Pampa, and central Cordoba. The forecast for this week is calling for an active pattern across central and eastern Argentina, which should maintain adequate moisture for crop growth.
Corn in Argentina was 40.3% planted as of late last week compared to 32.7% last year and 44.1% average. This represents an advance of 8% for the week. In the core production areas, the corn is 75-80% planted with 60-70% planted in southern Argentina and less than 1% planted in far northern Argentina. Corn is 26% in vegetative development, 5.8% pre-pollination, and 2.5% pollinating.
The corn is rated 2% poor/very poor, 62% fair, and 36% good/excellent. The good/excellent percentage is up 10% from the prior week. The soil moisture for the corn is rated 24% short/very short and 75% favorable/optimum. The favorable/optimum percentage is down 1% from the prior week.
2023/24 Argentina Corn Ratings*
| Condition | Soil Moisture | |||
|---|---|---|---|---|
| Poor/V. Poor % | Good/Excellent % | Short/V Short | Favorable/Optimum | |
| Nov. 2, 2023 | 13 (38) | 20 (6) | 39 (39) | 61 (61) |
| Nov. 9, 2023 | 10 (34) | 24 (9) | 30 (42) | 70 (56) |
| Nov. 16, 2023 | 6 (28) | 29 (11) | 25 (34) | 75 (66) |
| Nov. 23, 2023 | 4 (25) | 29 (12) | 25 (32) | 75 (68) |
| Nov. 30, 2023 | 2 (25) | 26 (15) | 24 (30) | 76 (70) |
| Dec. 7, 2023 | 2 (26) | 36 (18) | 24 (33) | 75 (67) |
*Source: Buenos Aires Grain Exchange - Crop Condition & Development Stages.
The Buenos Aires Grain Exchange is estimating the 2023/24 Argentina corn crop at 55.0 million tons. In the December WASDE Report, the USDA left the 2023/24 Argentina corn estimate unchanged at 55.0 million tons.