Jun 07, 2023
2022/23 Argentina Corn Estimate Unchanged at 35.0 Million Tons
Author: Michael Cordonnier/Soybean & Corn Advisor, Inc.
The 2022/23 Argentina corn estimate was left unchanged this week at 35.0 million tons and I have a neutral bias going forward.
Corn in Argentina was 29% harvested as of late last week compared to 32% last year and 40% average. This represents a 2% increase from the prior week. In the core production areas, the corn is 70-75% harvested with 30-40% harvested in southern Argentina and 0% harvested in far northern Argentina. The early planted corn is 51% harvested while the later planted corn is13% harvested.
The average corn yield thus far is 4,640 kg/ha (73.7 bu/ac), which is up 0.6 bu/ac from the prior week. The chart below from the Buenos Aires Grain Exchange shows Argentine corn yields for the last five years. The five-year average (blue dotted line) is 7,460 kg/ha (118.6 bu/ac). The chart is in quintals per hectare (qq/ha) and a quintal is equal to 100 kilograms. So, 74.6 qq/ha=7,460 kg/ha=118.6 bu/ac.
The 2022/23 Argentina corn was rated 54% poor/very poor, 42% fair, and 4% good/excellent as of late last week. The good/excellent percentage was down 1% from the prior week. Below is the corn condition rating in Argentina from the Buenos Aires Grain Exchange for June 1, 2023.
2022/23 Argentina Corn Ratings*
| Condition | Soil Moisture | |||
|---|---|---|---|---|
| Poor/V. Poor % | Good/Excellent % | Short/V Short | Favorable/Optimum | |
| Apr. 27, 2023 | 52 (22) | 5 (18) | 49 (16) | 51 (83) |
| May 4, 2023 | 54 (24) | 4 (16) | 50 (21) | 50 (78) |
| May 11, 2023 | 55 (24) | 2 (17) | 49 (26) | 51 (73) |
| May 18, 2023 | 53 (23) | 4 (17) | 50 (27) | 50 (73) |
| Jun. 1, 2023 | 54 (24) | 4 (15) | 44 (33) | 56 (67) |
*Source: Buenos Aires Grain Exchange – Crop Condition & Development Stages