Jan 03, 2024
2023/24 Argentina Soybeans 79% Planted, 10% Flowering
Author: Michael Cordonnier/Soybean & Corn Advisor, Inc.
Overall, the weather in Argentina has been improving over the last several weeks and the forecast for this week looks benign with a mix of sun and rain. Northern Argentina received the most rainfall last week with some areas recording localized flooding. Hailstorms were recorded last week primarily in southeast and southwest Buenos Aires. There is also a risk of summer frost this week in the highlands of southern Buenos Aires.
The Argentine soybean estimate was left unchanged this week at 50.0 million tons, but if the weather continues to cooperate, the soybean estimate could move higher by a couple of million tons.
Soybeans in Argentina were 78.6% planted as of late last week, which represents an advance of 9.5% for the week. In the core production area, the soybeans are approximately 95% planted with 50-60% planted in southern Argentina and 25-35% planted in far northern Argentina. Approximately 55% of the double crop soybeans have been planted. The soybeans are 10% blooming in Argentina. Below is the soybean planting progress in Argentina.
The soybeans were rated 3% poor/very poor, 57% fair, and 40% good/excellent as of late last week. The good/excellent percentage was up 3% from the prior week. Soil moisture for the soybeans was rated 7% short/very short and 91% favorable/optimum. The favorable/optimum percentage was unchanged from the prior week.
2022/23 Argentina Soybean Ratings*
| Condition | Soil Moisture | |||
|---|---|---|---|---|
| Poor/V. Poor % | Good/Excellent % | Short/V Short | Favorable/Optimum | |
| Dec. 7, 2023 | 2 (1) | 35 (78) | 15 (7) | 84 (91) |
| Dec. 14, 2023 | 4 (1) | 30 (85) | 13 (9) | 86 (84) |
| Dec. 21, 2023 | 3 (4) | 37 (73) | 6 (42) | 91 (58) |
| Dec. 28, 2023 | 3 (30) | 40 (10) | 7 (45) | 91 (55) |
*Source: Buenos Aires Grain Exchange – Crop Condition & Development Stages