2023/24 Argentina Soybeans 14% Harvested vs. 36% Average

Wet weather slowed the harvest pace in Argentina last week, especially in Entre Rios and the northern core area. Rain will favor northeastern Argentina this week and shift into southern Brazil next week. Harvesting will be slow in northeastern Argentina this week while it will progress well elsewhere.

Soybeans in Argentina were 13.9% harvested late last week compared to 36% average. This represents an advance of 3% for the week. The forecast looks dryer going forward with warming temperatures, so the harvest pace is expected to accelerate this week.

The 2023/24 Argentina soybean estimate was left unchanged this week at 51.0 million tons. Early yields in the core regions are quite good and these will probably be the best yields we will see in Argentina this season. Yields are expected to be lower in southern and northwestern Argentina were previous hot and dry conditions impacted the crop.

The best soybeans appear to be in the northern core region where the soybeans are 45% harvested with an average yield of 3,800 kg/ha (56.6 bu/ac), with a low of 2,800 kg/ha (41.7 bu/ac) and a high of 5,000 kg/ha (74.5 bu/ac). One of the worst areas appears to be southern Buenos Aires and southern La Pampa where early yields are averaging 2,220 kg/ha (33 bu/ac).

Soybean yields are averaging 3,440 kg/ha (51.2 bu/ac) thus far according to the Buenos Aires Grain Exchange. This is down 1.9 bu/ac from the prior week. The Buenos Aires Grain Exchange left their soybean estimate unchanged at 51.0 million tons.

Soybeans in Argentina were rated 23% poor/very poor, 47% fair, and 30% good/excellent as of late last week. The good/excellent percentage is down 1% from the prior week. The soil moisture for the soybeans was rated 20% short/very short, 78% favorable/optimum, and 2% saturated. The favorable/optimum percentage is up 6% from the prior week. Below is the soybean rating in Argentina for April 17, 2024 from the Buenos Aires Grain Exchange.

2022/23 Argentina Soybean Ratings*

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

Tags: soybeans, yields, crop, harvested, Argentina, estimate