Rain Helps Late Planted Soybeans in Argentina
Rains over the weekend were widespread across Argentina with the heaviest amounts in Santa Fe, Entre Rios, southwestern Buenos Aires, and La Pampa. The rains last week and over the weekend improved the soil moisture across central Argentina and there is more rain in the forecast. The improved soil moisture is particularly important for the late planted soybeans.
The soybean crop in Argentina is rated 25% poor/very poor, 50% fair, and 25% good/excellent. The good/excellent percentage is up 1 point from the prior week. The early planted soybeans are 45% filling pods and 9% maturing. The later planted soybeans are 35% setting pods and 4% filling pods. In the core production areas, the soybeans are 20-25% maturing.
There are no reports of soybeans being harvested. The Buenos Aires Grain Exchange left their 2021/22 Argentina soybean estimate unchanged at 42.0 million tons while the Rosario Exchange is estimating the crop at 40.5 million tons.
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