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February 17, 2021

2020/21 Argentina Soybeans 23% Good/Excellent, 6% Filling Pods

Author: Michael Cordonnier/Soybean & Corn Advisor, Inc.

The weather last week was OK in Argentina with enough soil moisture to maintain the current status quo of the crops. The forecast is calling for dryer weather across much of the country, but the soils in Argentina have a very good water holding capacity and it would probably take more than a week of dry weather to result in significant moisture stress.

Early planted soybeans in Argentina are approximately 50% setting pods and 6% filling pods. The percentage filling pods is about 20% slower than average. The later planted soybeans are approximately 40% flowering, which is about 10% slower than average.

The soybean crop in Argentina was rated 8% poor to very poor, 69% average, and 23% good to excellent late last week. The good to excellent percentage compares to 19% last week and 66% last year. The soil moisture for the corn was rated 15% short to very short and 85% favorable to optimum. The favorable to optimum compares to 87% last week and 97% last year.

The Buenos Aires Grain Exchange left their soybean estimate unchanged last week at 46.0 million tons, but the Rosario Exchange increased their soybean estimate by 2 million tons to 49.0 million. The USDA left their Argentina soybean estimate unchanged at 48.0 million tons.