2023/24 Argentina Soybeans 93% Planted, 30% Blooming
Soybeans in Argentina were 93% planted as of late last week, which represents an advance of 7% for the week. Most of the soybeans left to plant are in the far northern part of the country. Approximately 30% of the soybeans are blooming under nearly ideal moisture conditions.
The weather continues to improve in Argentina as the soybeans enter reproduction and the forecast looks favorable as well.
In the January WASDE report, the USDA increased the 2023/24 Argentina soybean estimate by 2.0 million tons to 50.0 million.
The soybeans in Argentina are rated 3% poor/very poor, 46% fair, and 51% good/excellent. The good/excellent percentage is up 9% compared to the prior week. The soil moisture for the soybeans is rated 6% short/very short, 92% favorable/optimum, and 2% saturated. The favorable/optimum percentage is up 2% from the prior week. Below is the soybean rating from the Buenos Aires Grain Exchange.
2022/23 Argentina Soybean Ratings*
| Condition | Soil Moisture | |||
|---|---|---|---|---|
| Poor/V. Poor % | Good/Excellent % | Short/V Short | Favorable/Optimum | |
| Dec. 7, 2023 | 2 (1) | 35 (78) | 15 (7) | 84 (91) |
| Dec. 14, 2023 | 4 (1) | 30 (85) | 13 (9) | 86 (84) |
| Dec. 21, 2023 | 3 (4) | 37 (73) | 6 (42) | 91 (58) |
| Dec. 28, 2023 | 3 (30) | 40 (10) | 7 (45) | 91 (55) |
| Jan. 3, 2024 | 2 (40) | 42 (7) | 9 (46) | 90 (54) |
| Jan. 10, 2024 | 3 (58) | 51 (4) | 6 (67) | 92 (33) |
*Source: Buenos Aires Grain Exchange – Crop Condition & Development Stages
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