December 20, 2016
Weekend Rains help Argentina's Soybean and Corn Crops
Argentina Soybeans - There were better than expected rains over the weekend across much of Buenos Aires and there is more rain in the forecast later this week. The farmers in Cordoba and southern Santa Fe only received light showers or none at all, but they too have another chance for rain later this week. The rains over the weekend will help of course, but more widespread coverage will be needed going forward to completely recharge the soil moisture.
The dry weather last week allowed Argentine farmers make good progress planting their soybeans which are now 66% planted, which is about average. Soybean planting advanced 9% last week as farmers planted both full season and double crop soybeans. In the core production regions, the soybeans are approximately 90% planted with 50-75% planted in southern Argentina and 5-20% planted in far northern Argentina.
Prior to the weekend rains, some farmers in central and southern Buenos Aires had suspended planting due to dryness. The rains over the weekend were generous enough in Buenos Aires and La Pampa for farmers to resume their planting activities.
Soybeans in the core production regions are starting to flower with adequate to optimum soil moisture. The weekend rains were the best rains in several weeks and they helped to stabilize the crop so I now have a neutral bias going forward. The longer range forecast is still for a dryer than normal summer growing season, but for now, things are going OK in Argentina.
Argentina Corn - The weekend rains were also beneficial for the corn crop in Argentina. The additional soil moisture and the forecast for more rain later this week will encourage farmers in Argentina to increase their corn planting activities.
The dry weather last week allowed farmers to plant approximately 10% of their intended corn crop which was the fastest one week planting pace so far this growing season. Farmers planted both full-season and late planted corn last week and the nationwide corn plating is now 57% which is about average. In the core production regions the corn is 90% planted with 75%-90% planted in southern Argentina and 10% to 15% planted in far northern Argentina.
The dry conditions last week in much of Buenos Aires and La Pampa slowed corn planting in those provinces, but the weekend rains will now allow corn planting to resume in those provinces.
The most advanced full-season corn is already past pollination and into the grain filling period, but most of the corn planed thus far in Argentina is in various stages of vegetative development.