Mar 08, 2023
2022/23 Argentina Soybeans Continue to Deteriorate
Author: Michael Cordonnier/Soybean & Corn Advisor, Inc.
It was another hot and generally dry week last week in Argentina. That coupled with the effects of the frost several weeks ago led to another downgrade of the soybean crop. The crop is now rated just 2% good/excellent and 67% poor/very poor. Any rainfall this week will be focused across the southern production areas. Limited rainfall across central Argentina will maintain significant stress on late planted crops.
High temperatures and a lack of rainfall continues to impact the soybeans where approximately two-thirds of the crop is in the critical reproductive phase. Last week, some cities registered temperatures as high as 40°C (104°F). The city of Buenos Aires hit 38°C (101°F) last week breaking the record set in 1952. The temperatures in Argentina have been very erratic, just three weeks ago we were talking about record low temperatures and localized frosts.
Speaking of frost, the low temperatures appear to have caused some damage to the upper one-third of plants in parts of Cordoba, San Luis, northern La Pampa, and western Buenos Aires. Some of the early planted soybeans are maturing, but I have not heard any early yields. Approximately 38% of Argentina's soybeans are grown in northern La Pampa and western Buenos Aires and farmers in the region are expecting soybean yields to be down as much as 50% from the long-term average.
The 2022/23 Argentina soybean crop was rated 67% poor/very poor, 31% fair, and 2% good/excellent as of late last week. The good/excellent percentage was down 1 point from the prior week. The soil moisture for the corn was rated 74% short/very short and 26% favorable/optimum. The favorable/optimum percentage was down 3 points from the prior week.
Below is the soybean condition rating in Argentina from the Buenos Aires Grain Exchange for March 2, 2023.
2022/23 Argentina Soybean Ratings*
|Poor/V. Poor %||Good/Excellent %||Short/V Short||Favorable/Optimum|
|Jan. 26, 2023||54 (22)||7 (36)||63 (36)||37 (64)|
|Feb. 2, 2023||46 (20)||12 (38)||53 (36)||47 (64)|
|Feb. 9, 2023||48 (19)||13 (40)||61 (33)||39 (67)|
|Feb. 16, 2023||56 (23)||9 (35)||67 (36)||33 (64)|
|Feb. 23, 2023||60 (25)||3 (26)||73 (41)||29 (59)|
|Mar. 2, 2023||67 (23)||2 (27)||74 (32)||26 (37)|
*Source: Buenos Aires Grain Exchange – Crop Condition & Development Stages