Mar 05, 2024
2023/24 Argentina Soybeans Rated 30% Good/Excellent, Down 1%
Author: Michael Cordonnier/Soybean & Corn Advisor, Inc.
The rain last week and over the weekend favored northern Argentina while southern Argentina remained mostly dry with only a few showers in Buenos Aires and La Pampa. This week, the rain is expected to favor northern Argentina while dryness and crop stress will continue to build across southern production areas. The moisture has favored the late growth of soybeans and the soybeans that are currently filling pods. Approximately 40.5% of the early planted soybeans are filling pods and 27% of the late planted soybeans are setting pods. No soybean harvest has been reported yet.
Recent rainfall has been sort of a mixed bag in Argentina. Where the rainfall has been adequate, the soybean yields should be trendline. Where the recent rainfall has been below average, such as in southern Argentina, the soybean yields will likely be disappointing. Therefore, the Argentina's soybean estimate was left unchanged this week while we wait to see how the weather develops.
The soybeans in Argentina were rated 18% poor/very poor, 52% fair, and 30% good/excellent as of late last week. The percentage of the crop rated good/excellent was down 1% from the prior week. The soil moisture for the soybeans was rated 27% short/very short and 73% favorable/optimum. The percentage rated favorable/optimum was up 6% from the prior week.
2022/23 Argentina Soybean Ratings*
| Condition | Soil Moisture | |||
|---|---|---|---|---|
| Poor/V. Poor % | Good/Excellent % | Short/V Short | Favorable/Optimum | |
| Jan. 24, 2024 | 8 (53) | 44 (7) | 9 (64) | 90 (36) |
| Jan. 31, 2024 | 14 (52) | 36 (14) | 23 (51) | 77 (49) |
| Feb. 7, 2024 | 22 (44) | 31 (16) | 40 (61) | 60 (39) |
| Feb. 14, 2024 | 19 (53) | 31 (10) | 27 (68) | 73 (32) |
| Feb. 21, 2023 | 17 (58) | 31 (2) | 33 (72) | 67 (28) |
| Feb. 28, 2023 | 18 (66) | 30 (2) | 27 (77) | 73 (23) |
*Source: Buenos Aires Grain Exchange – Crop Condition & Development Stages