March 14, 2017
Argentine Crops Benefit from Favorable Weather
Argentine Soybeans - The weather in Argentina continues to be generally beneficial for the soybean crop. There has probably been too much rain in some of the low lying areas that has resulted in continued wetness. In the more elevated fields, the moisture is continuing to support an elevated yield potential. Most farmers are hopeful that their soybean yields will be very good and above earlier expectations.
Most of the earlier planted soybeans are in the midst of pod filling, if not already approaching maturity. The soybeans in Argentina are 6% mature, 58% filling pods, 28% setting pods, 6% flowering, and 1% in vegetative development. In the central production regions, yield expectations are very high and I expect the first few soybeans might be harvested within a week or so. The later planted soybeans in northern Argentina are setting pods and they are generally rated in good to very good condition.
One of the problems earlier in the growing season was dry weather in southern Buenos Aires province. Rains last week in the region have now completely recharged the soil moisture.
The soybean crop in Argentina is close to being "in the bin" and there are only two things that could derail the crop going forward. One would be cold weather and a killing frost before the later planted soybeans mature. The other would be a return of heavy rains accompanied by flooding. In April of 2015, heavy rains and widespread flooding did result in significant damage to the Argentine soybean crop.
Barring some unforeseen problems, the soybean crop in Argentina is yet another example of the recuperative powers of soybeans. The one major problem that could result in significant damage to the soybean crop is a severe drought during the pod filling period. Other than that, soybeans can take a lot of abuse and still turn out fairly well in the end.
Argentine Corn - The corn crop is getting closer to the "finish line" without any additional significant problems. The corn harvest is now underway across central Argentina with approximately 2% of the corn harvested. Early yield reports are higher than initially expected, especially in the northern core and southern core production regions. In these core regions, some early yields are being reported as high as 12,500 kg/ha or 192 bu/ac. Not every field is going yield like that of course, but the good corn is going to be very good.
One of the concerns right now is higher grain moisture and wet soils. In the province of Entre Rios, farmers are reporting grain moisture in the range of 18-20%, which means the grain will need to be dried before storage.
The later planted corn in northern Argentina is pollinating and starting to fill grain with most of the crop rated in good to very good condition. The early planted corn crop in Argentina is essentially finished and with the recent rain in northern Argentina, I really don't see how the corn crop in Argentina could be derailed going forward.