Rainfall improved soybean crop conditions in Argentina

Sowings of soybeans in bad and very bad condition in Argentina by February 21 decreased to 17% from 19% a week earlier. Such data were announced by analysts of the Grain Exchange of Buenos Aires.

According to their estimates, the share of oilseed crops in satisfactory condition increased to 52% from 50%, and in good and excellent remained at the level of 31%.

According to experts, the condition of plants has improved against the background of the past heavy rainfall in the country.

The exchange also reported that by the reporting date, 28% of corn crops were in good and excellent condition, while in satisfactory – 57%, in poor – 15%. Last week, these indicators amounted to 27%, 56% and 17%, respectively.

The condition of grain crops has also improved due to abundant rainfall, experts added.

According to the latest forecast of the U.S. Department of Agriculture (USDA), the gross soybean harvest in Argentina in the current season will be 50 million tons against 25 million tons in MY 2022/23 and 43.9 million tons in MY 2021/22. The corn harvest is expected to be 55 million tons (35 million tons in MY 2022/23; 49.5 million tons in MY 2021/22).

Tags: crop condition, Argentina, soybean