2023/24 Argentina Soy 52% Planted, 35% Rated Good/Excellent

Rainfall last week in Argentina favored the northern and eastern areas. The rainfall improved the soil moisture; however, some dryness is still lingering in western Buenos Aires, northern La Pampa, and central Cordoba. The forecast for this week is calling for an active pattern across central and eastern Argentina, which should maintain adequate moisture for crop growth.

The soybeans in Argentina were 51.7% planted as of late last week, which represented an advancement of 7.7% for the week. In the core production areas, the soybeans are 75-85% planted with 20-40% planted in southern Argentina and less than 5% plated in far northern Argentina. As farmers wrap up planting their early soybeans, they are starting to plant their double crop soybeans. Below is the soybean planting progress in Argentina (black line) from the Buenos Aires Grain Exchange.

The soybeans in Argentina are rated 2% poor/ very poor, 63% fair, and 35% good/excellent. The good/excellent percentage is unchanged from the prior week. The soil moisture for the soybeans is rated 15% short/very short and 84% favorable/optimum. The favorable/optimum percentage is unchanged from the prior week.

2022/23 Argentina Soybean Ratings*

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

The Buenos Aires Grain Exchange is estimating the 2023/24 Argentina soybean crop at 50.0 million tons. In the December WASDE Report, the USDA left the 2023/24 Argentina soybean estimate unchanged at 48.0 million tons.

Tags: rainfall, soybeans, Argentina, planted