Feb 27, 2024
2023/24 Argentina Corn Rating up 1% to 28% Good/Excellent
Author: Michael Cordonnier/Soybean & Corn Advisor, Inc.
Rainfall last week and over the weekend in Argentina favored Cordoba, Santa Fe, and Entre Rios. The moisture declined again in La Pampa and Buenos Aires. Rainfall this week will again favor northern Argentina with dryer weather forecasted for southern Argentina.
Harvesting of the early planted corn has started in north-central Santa Fe and Entre Rios with yields reported in the range of 9,000 to 11,000 kg/ha (143 to 175 bu/ac). The earlier planted corn was far enough along in its development that it escaped much of the potential damage from the hot and dry conditions in late January and early February. The later planted corn was not as lucky and is expected to have lower yields due to the adverse weather.
The Rosario Grain Exchange lowered their 2023/24 Argentina corn estimate 2.0 million tons last week to 57.0 million. The Buenos Aires Grain Exchange is estimating the 2023/24 Argentina corn crop at 56.5 million tons.
The 2023/24 corn in Argentina was rated 15% poor/very poor, 57% fair, and 28% good/excellent as of late last week. The percentage of the corn rated good/excellent is up 1% compared to the prior week. The soil moisture for the corn was rated 29% short/very short and 71% favorable/optimum. The percentage rated favorable/optimum is down 3% from the prior month. Below is the corn rating for February 21, 2024 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. 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) |
| Feb. 21, 2023 | 15 (51) | 28 (9) | 29 (60) | 71 (40) |
*Source: Buenos Aires Grain Exchange – Crop Condition & Development Stages