2024/25 Argentina Soybean Estimate Unchanged at 48.0 Million Tons

Central and southern Argentina received several episodes of rainfall last week especially Buenos Aires, La Pampa, and southern Cordoba. More rain occurred in the same area over the weekend. The rainfall has boosted soil moisture for the late developing crops. The forecast for this week is calling for limited shower activity in coverage and intensity, especially in northeastern and southeastern Argentina. The hot temperatures of last week are expected to decline to more moderate temperatures this week.

The weather in Argentina has improved significantly over the last several weeks. The crops have stabilized, and the previous drought fears have given way to concerns of too much rain in isolated areas of Buenos Aires. The forecast for this week is calling for a dryer weather pattern in Argentina. Therefore, the soybean estimate in Argentina was left unchanged this week at 48.0 million tons with a neutral bias going forward.

Soybeans in Argentina were rated 23% poor/very poor, 44% fair, and 29% good/excellent as of late last week. The good/excellent percentage is up 5% from the prior week and this is the third consecutive weekly improvement. Soil moisture for soybeans is 23% short/every short, 77% favorable/optimum, and 2% surplus. The favorable/optimum percentage is up 8% from the prior week.

2024/25 Argentina Soybean Ratings*

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

Tags: weather, rainfall, soybeans, Argentina, estimate