2022/23 Argentina Soybeans 99% Planted

After months of drought, farmers in Argentina received the best rains of the growing season last week. Rainfall amounts were better than forecasted, but the distribution of the heavier amounts of rain was uneven. More rain fell over the weekend especially in Cordoba and the forecast is calling for more rain this week in northwestern Argentina. Dryness remains extensive across Santa Fe, Entre Rios, and northern Buenos Aires. Dryer and hotter weather is forecasted to return to Argentina later this week and into next week.

These rains did not end the drought in Argentina and more rain is needed, but they did help to stabilize the soybean crop. Therefore, the 2022/23 Argentina soybean estimate was left unchanged this week at 39.0 million tons. If the soybeans in Argentina continue to receive rain for the next several weeks, the soybean estimate could move higher by several million tons. On the other hand, if hotter and dryer weather returns to Argentina, the soybean estimate could decline further.

Yields of the earlier planted crops have suffered the most harm because the crops were too far along in their development for any meaningful improvement in yields. Yields of the later planted crops could improve if they continue to receive adequate moisture.

The 2022/23 soybeans in Argentina were 98.8% planted as of later last week compared to 100% last year and 99.9% average. Even though the ideal soybean planting window has closed in Argentina, the recent rains in Argentina could encourage farmers to plant their remaining soybeans.

The soybeans are rated 54% poor/very poor, 39% fair, and 7% good/excellent. The good/excellent percentage is up 4% compared to the prior week. The soil moisture for the soybeans is rated 63% short/very short and 37% favorable/optimum. The favorable/optimum percentage is up 7% compared to the prior week.

Nearly all the soybeans left to plant are in northern Argentina. The early planted soybeans are over 60% flowering and setting pods and about 15% filling pods. The later planted soybeans are approximately 75% in vegetative development and 10% flowering. Below is the soybean condition rating in Argentina from the Buenos Aires Grain Exchange for January 26, 2023.

2022/23 Argentina Soybean Ratings*

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

Tags: rains, estimate, soybean, yields, crop, Argentina