Jun 12, 2024
2023/24 Argentina Soybeans 92.2% Harvested
Author: Michael Cordonnier/Soybean & Corn Advisor, Inc.
The 2023/24 Argentina soybean estimate was left unchanged this week at 50.0 million tons and I have a neutral to slightly lower bias going forward.
Soybeans were 92.2% harvested as of late last week which represents an advance of 6% for the week. Harvesting in the core production areas is nearly complete with a few soybeans left to harvest in southern Argentina and far northern Argentina.
The nationwide average soybean yield is 3,030 kg/ha (45.1 bu/ac), which is down 0.7 bu/ac from the prior week. Yields range from a low of 1,760 kg/ha (26.2 bu/ac) in northern Argentina to a high of 3,850 kg/ha (57.3 bu/ac) in the northern core area. The Buenos Aires Grain Exchange left their soybean estimate unchanged last week at 50.5 million tons.
Soybeans were rated 29% poor/very poor, 49% fair, and 22% good/excellent as of late last week. The good/excellent percentage was unchanged from the prior week. The soil moisture for soybeans was rated 27% short/very short and 73% favorable/optimum. The favorable/optimum percentage was up 1% from the prior week. Below is the Argentina soybean rating for June 5, 2024 from the Buenos Aires Grain Exchange.
2022/23 Argentina Soybean Ratings*
| Condition | Soil Moisture | |||
|---|---|---|---|---|
| Poor/V. Poor % | Good/Excellent % | Short/V Short | Favorable/Optimum | |
| May 1, 2024 | 25 (57) | 29 (4) | 12 (47) | 84 (53) |
| May 8, 2024 | 26 (51) | 27 (5) | 14 (43) | 84 (57) |
| May 15, 2024 | 28 (48) | 24 (14) | 20 (42) | 79 (58) |
| May 22, 2024 | 28 (47) | 25 (5) | 25 (32) | 75 (68) |
| May 29, 2024 | 30 (26) | 22 (16) | 28 (26) | 72 (74) |
| June 5, 2024 | 29 (26) | 22 (16) | 27 (26) | 73 (74) |
*Source: Buenos Aires Grain Exchange – Crop Condition & Development Stages