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February 3, 2021

2020/21 Argentina Soy Planting Complete, Crop Rated 18% GD/EX

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

There were good rains over the weekend in central and western Argentina and the forecast is calling for rain this week in the more northern locations. Southern Argentina only received limited rainfall over the weekend and there is only light rain in the forecast for southern Argentina. Earlier last week the temperatures in Argentina were hot and there was limited rainfall. The result was slower growth and development for the soybeans that are now in their critical reproductive phase. Since the soybeans are now filling pods, they can ill afford prolonged periods of dry weather.

The soybean planting is complete and the early planted soybeans were 24% setting/filling pods late last week compared to 41% last year and 41% average. The later planted soybeans were 12% flowering compared to 25% last year and 22% average.

The 2020/21 Argentina soybeans were rated 13% poor to very poor, 69% fair, and 18% good to excellent as of late last week according to the Buenos Aires Grain Exchange. The good/excellent percentage was down 3% compared to 21% good/excellent last week and 66% last year. The soil moisture for the soybeans was rated 24% short to very short and 76% favorable to optimum. The favorable to optimum percentage was down 11% compared to last week at 87% favorable to optimum and 96% last year.

The Buenos Aires Grain Exchange lowered their 2020/21 soybean estimate last week by 0.5 million tons to 46.0 million. They cited high temperatures and limited moisture availability during the early soybean reproductive period as the reason for the reduction.