Mar 12, 2024
2023/24 Argentina Soybeans Rated 29% Gd/Ex, Down 1%
Author: Michael Cordonnier/Soybean & Corn Advisor, Inc.
Rainfall last week and over the weekend favored central and northern areas with the heaviest amounts in Entre Rios and west central Buenos Aires. Rainfall this week is expected to favor south central and southeastern areas with heaviest amounts in northern Buenos Aires. Above normal temperatures are expected across northern Argentina.
Soybeans in Argentina are 40% filling pods and 6% maturing and a few fields of the early planted soybeans should be harvested by the end of this week. In the March WASDE Report, the USDA left the Argentina soybean estimate unchanged at 50.0 million tons.
The 2023/24 soybean crop in Argentina was rated 17% poor/very poor, 54% fair, and 29% good/excellent. The good/excellent percentage was down 1% compared to the prior week. The soil moisture for the corn was rated 28% short/very short and 72% favorable/optimum percentage was down 1% compared to the prior week. Below is the Argentina soybean condition as of March 6, 2024 from the Buenos Aires Grain Exchange.
2022/23 Argentina Soybean Ratings*
| Condition | Soil Moisture | |||
|---|---|---|---|---|
| Poor/V. Poor % | Good/Excellent % | Short/V Short | Favorable/Optimum | |
| 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) |
| Mar. 6, 2023 | 17 (60) | 29 (3) | 28 (73) | 72 (27) |
*Source: Buenos Aires Grain Exchange – Crop Condition & Development Stages