2023/24 Argentina Soybeans 86% Harvested

Soybeans in Argentina were 86% harvested as of late last week which represented an advance of 8% for the week. The last areas to harvest will be far northern Argentina where approximately 25% of the soybeans are left to harvest and parts of southern Argentina where approximately 30% of the soybeans are left to harvest.

The average nationwide soybean yield thus far is 3,080 kg/ha (45.8 bu/ac) which is down 0.6 bu/ac from the prior week. Soybean yields range from a low of 1,770 kg/ha (26.3 bu/ac) in northern Argentina to a high of 3,860 kg/ha (57.5 bu/ac) in the northern core region. The Buenos Aires Grain Exchange left their soybean estimate unchanged this week at 50.5 million tons.

Farmer selling in Argentina picked up during May due to improved prices, but it is still the slowest selling pace in a decade. As of May 22nd, farmers in Argentina has sold 36.7% of their anticipated 2023/24 soybean crop.

The soybeans in Argentina were rated 30% poor/very poor, 48% fair, and 22% good/excellent as of late last week. The good/excellent percentage is down 3% compared to the prior week. The soil moisture for the soybeans was rated 28% short/very short and 72% favorable/optimum. The favorable/optimum percentage is down 3% from the prior week. Below is the Argentina soybean rating for May 29, 2024 from the Buenos Aires Grain Exchange.

2022/23 Argentina Soybean Ratings*

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

Tags: prices, soybeans, crop, harvested, yield, Argentina