2022/23 Argentina Soybean Estimate Unchanged at 22.0 Million Tons

The 2022/23 Argentina soybean estimate was left unchanged this week at 22.0 million tons. The average nationwide soybean yield last week was 1,500 kg/ha (22.3 bu/ac), which was unchanged from the prior week. With only 13% of the soybeans left to harvest, the soybean yield and production estimate are expected to remain relatively steady as the harvest wraps up.

Soybeans in Argentina were 87% harvested as of late last week compared to 97% last year and 96% average. This represented an advance of 8.7% for the week. The harvest is essentially wrapping up in central Argentina, while the soybeans are 60-70% harvested in southern Argentina and in far northern Argentina.

The graph below from the Buenos Aires Grain Exchange shows the soybean harvest progress in Argentina (black line).

The 2022/23 soybeans in Argentina were rated 40% poor/very poor, 42% fair, and 18% good/excellent as of late last week. The good/excellent percentage was up 13% from the prior week because only the better-quality soybeans are left to harvest. Below is the soybean condition rating in Argentina from the Buenos Aires Grain Exchange for June 1, 2023.

2022/23 Argentina Soybean Ratings*

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

Tags: estimate, soybeans, Production, yield, Argentina, harvest