2021/22 Argentina Corn Estimate Lowered Due to Dry Conditions

The 2021/22 Argentina corn estimate was lowered 1.0 million tons to 52.0 million and I have a neutral to lower bias going forward.

Rainfall last week in Argentina was mostly in the southern and western areas. The driest parts of Argentina are north-central and eastern areas. Temperatures have been hotter than normal leading to increased evaporation. The forecast is calling for increased chances of rain later this week and in the longer-range forecast, but probably not enough to change the overall pattern.

The 2021/22 Argentina corn was 60.2% planted as of late last week compared to 61.2% last year and 70.1% average. This represents an advance of 12.5% for the week. In the core production areas, the corn was 98% planted with 60-70% planted in southern Argentina and 5-10% planted in far northern Argentina. The first phase of corn was 65% planted and the second phase was 56% planted. The early corn is 44% pollinating and 1% filling grain while the late corn is in vegetative development.

The corn is rated 1% poor, 23% fair, and 76% good/excellent. The percentage rated good/excellent is down 7 points from the prior week. The soil moisture for the corn is rated 7% short/very short and 93% favorable/optimum. The percentage rated goo/optimum is down 3 points from last week.

Soybean & Corn Advisor

Tags: estimate, soil moisture, Argentina, planted, corn, rainfall