2024/25 Argentina Soybean Estimate Unchanged at 48.0 Million Tons

Last week and over the weekend heavy rains were recorded across La Pampa, Buenos Aires and entre Rios. The weather remained mostly dry in central and northern Argentina. This week an upturn in rainfall is expected across much of Argentina with more rain forecasted for next week. If the rains verify, it will go a long way in stabilizing the crops and halting the declining crop condition ratings.

The condition of the soybean crop in Argentina improved last week for the first time in about two months. Rainfall across the core region is what led to the improvement. There was more rainfall in Argentina over the weekend and there is more rain in the forecast.

The soybeans in Argentina are 21% filling pods compared to 18% last year and 22% average. Soybeans are most advanced in the core regions and least advanced in far northern Argentina. Recent rains should help the soybeans recuperate so therefore, the 2024/25 soybean estimate for Argentina was left unchanged this week at 48.0 million tons with a neutral bias going forward.

Soybeans in Argentina were rated 34% poor/very poor, 49% fair, and 17% good/excellent as of late last week. The good/excellent percentage is up 2% from the prior week. This is the first time it has increased in about two months. Soil moisture for soybeans is rated 33% short/very short and 67% favorable/optimum. The favorable/optimum percentage is up 5% compared to the prior week.

2024/25 Argentina Soybean Ratings*

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

Tags: soybeans, crop, Argentina, estimate, rains