Feb 20, 2024
2023/24 Argentina Corn Down 4% to 27% Rated Good/Excellent
Author: Michael Cordonnier/Soybean & Corn Advisor, Inc.
Rainfall improved last week, but some damage had already been done from the prior hot and dry conditions. It appears that the late planted corn from November and December was impacted the most by heat and moisture stress. In the more southern areas, some of the earlier planted corn was impacted by localized hot and dry conditions.
Rain in Argentina last week favored northern and central growing areas and they improved the soil moisture favoring crop growth. A few fields of corn have been harvested in north-central Argentina and with dry weather expected this week, the early corn harvest should start to pick up.
The corn in Argentina was rated 17% poor/very poor, 56% fair, and 27% good/excellent as of late last week. The good/excellent percentage was down 4% from the prior week. The soil moisture for the corn was rated 26% short/very short and 74% favorable/optimum. The favorable/optimum was up 14% from the prior week.
It was a mild surprise that the percentage of corn rated good/excellent declined 4% last week despite the improved soil moisture. Below is the corn rating for February 15th from the Buenos Aires Grain Exchange.
2023/24 Argentina Corn Ratings*
| Condition | Soil Moisture | |||
|---|---|---|---|---|
| Poor/V. Poor % | Good/Excellent % | Short/V Short | Favorable/Optimum | |
| Jan. 10, 2023 | 5 (47) | 36 (7) | 6 (60) | 93 (40) |
| Jan. 17, 2023 | 3 (47) | 46 (5) | 4 (58) | 93 (42) |
| Jan. 24, 2023 | 6 (38) | 41 (12) | 11 (49) | 87 (51) |
| Jan. 31, 2023 | 14 (36) | 36 (16) | 23 (47) | 77 (48) |
| Feb. 7, 2023 | 15 (34) | 31 (20) | 40 (46) | 60 (46) |
| Feb. 14, 2023 | 17 (45) | 27 (11) | 26 (55) | 74 (45) |
*Source: Buenos Aires Grain Exchange – Crop Condition & Development Stages