2022/23 Argentina Soybeans Rated Only 3% Good/Excellent

Everything that could go wrong with the 2022/23 soybean crop in Argentina has gone wrong from drought to record high temperatures and record low temperatures. During the second week of February, temperatures went from record highs to record lows, including a frost, within the span of one week.

Argentina was mostly dry over the weekend with only a few scattered showers. Dry weather is expected in most of Argentina this week with a few scattered showers in northern Argentina. Above normal temperatures and below normal rainfall is expected in Argentina over the next 6-10 day period.

The Buenos Aires Grain Exchange lowered their soybean estimate 4.5 million tons to 33.5 million and stated and indicated that it could move lower in the weeks ahead.

Over 70% of the early planted soybeans are setting pods or filling pods and 0.6% are maturing. High temperatures during the first half of February impacted the soybeans in northern Argentina and then record low temperatures impacted the soybeans in parts of La Pampa, Buenos Aires, Cordoba, Santa Fe, and San Luis. There have not been any reports of soybeans being harvested, but some early harvesting could start soon.

The 2022/23 soybeans in Argentina were rated 60% poor/very poor, 37% fair, and 3% good/excellent. The good/excellent percentage was down 6% from the prior week. The soil moisture for the soybeans was rated 73% short/very short and 29% favorable/optimum. The favorable/optimum percentage was down 4% from the prior week.

Below is the soybean condition rating in Argentina from the Buenos Aires Grain Exchange for February 23, 2023.

2022/23 Argentina Soybean Ratings*

*Source: Buenos Aires Grain Exchange – Crop Condition & Development Stages

Tags: soybeans, crop, dry weather, Argentina, high temperatures, low temperatures