Feb 20, 2024
2023/24 Argentina Soybeans Unchanged at 31% Good/Excellent
Author: Michael Cordonnier/Soybean & Corn Advisor, Inc.
Rain in Argentina last week favored northern and central growing areas and they improved the soil moisture favoring crop growth. Dryer weather is expected across Argentina this week with improved chances of rainfall during the last week of February.
The soybeans in Argentina were 43% setting pods and 13% filling pods as of last week. The weather was good enough last week to stabilize the crop and the percentage of the soybeans rated good/excellent was unchanged last week at 31%. Given the generally favorable near-term forecast, the Argentine soybean estimate was left unchanged this week at 50.0 million. There are no reports of soybeans being harvested yet, but there might be a few fields harvested by the end of this week or next week.
The soybeans in Argentina were rated 19% poor/very poor, 50% fair, and 31% good/excellent as of late last week. The good/excellent percentage is unchanged from the prior week. The soil moisture for the soybeans was rated 27% short/very short and 73% favorable/optimum. The favorable/optimum is up 13% from the prior week. Below is the soybean ratings for February 15th from the Buenos Aires Grain Exchange.
2022/23 Argentina Soybean Ratings*
| Condition | Soil Moisture | |||
|---|---|---|---|---|
| Poor/V. Poor % | Good/Excellent % | Short/V Short | Favorable/Optimum | |
| 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) |
| Jan. 31, 2024 | 14 (52) | 36 (14) | 23 (51) | 77 (49) |
| Feb. 7, 2024 | 22 (44) | 31 (16) | 40 (61) | 60 (39) |
| Feb. 14, 2024 | 19 (53) | 31 (10) | 27 (68) | 73 (32) |
*Source: Buenos Aires Grain Exchange – Crop Condition & Development Stages