Jan 30, 2024
2023/24 Argentina Corn 35% Pollinating, 12% Filling Grain
Author: Michael Cordonnier/Soybean & Corn Advisor, Inc.
Argentina experienced dry weather last week, leading to declining soil moisture, especially in Buenos Aires. The forecast for this week is calling for dry weather in Argentina with temperatures as high as the low 100's °F. The conditions will lead to moisture stress especially for the corn that are already pollinating and filling grain.
Up until this week, I had a neutral to higher bias, but that has now changed to a neutral bias. I think the weather in Argentina has turned worrisome especially since the corn is now entering reproduction. The percentage of the corn rated good/excellent declined 5% to 41% last week and it should decline more this week.
The Buenos Aires Grain Exchange increased the 2023/24 corn estimate by 1.5 million tons to 56.5 million. The corn acreage was increased 100,000 hectares to 7.2 million (17.7 million acres).
Corn in Argentina was rated 6% poor/very poor, 53% fair, and 41% good/excellent as of late last week. The good/excellent percentage declined 5% from the prior week. The soil moisture for the corn was rated 11% short/very short, 87% favorable/optimum, and 2% saturated. The favorable/optimum percentage declined 6% compared to the prior week. Corn is 97.2% planted and the corn is approximately 35% pollinating and 12% filling grain. Below is the corn rating from the Buenos Aires Grain Exchange.
2022/23 Argentina Soybean Ratings*
| Condition | Soil Moisture | |||
|---|---|---|---|---|
| Poor/V. Poor % | Good/Excellent % | Short/V Short | Favorable/Optimum | |
| Dec. 21, 2023 | 3 (4) | 37 (73) | 6 (42) | 91 (58) |
| Dec. 28, 2023 | 3 (30) | 40 (10) | 7 (45) | 91 (55) |
| Jan. 3, 2024 | 2 (40) | 42 (7) | 9 (46) | 90 (54) |
| Jan. 10, 2024 | 3 (58) | 51 (4) | 6 (67) | 92 (33) |
| Jan. 17, 2024 | 2 (56) | 55 (4) | 7 (69) | 90 (31) |
| Jan. 24, 2024 | 8 (53) | 44 (7) | 9 (64) | 90 (36) |
*Source: Buenos Aires Grain Exchange – Crop Condition & Development Stages