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March 17, 2021

2020/21 Argentina Corn 3-4% Harvested, Early Yields Dissapoint

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

Last week was another week of limited rainfall and high temperatures impacting the corn at a critical time. The forecast is calling for widespread rains this week across much of Argentina. If the rains verify, they would be most beneficial for the late planted corn that is now starting the critical reproductive phase.

The Argentina corn was 3.4% harvested late last week which represented an advance of 1.5% for the week. The most advanced harvest is in central Argentina where the early yields are below expectations in the range of 5,380 to 7,570 kg/ha (85.5 to 120.3 bu/ac).

The Argentina corn crop was rated 28% poor/very poor, 55% fair, and 17% good/excellent as of late last week. The good/excellent percentage compares to 25% last week and 38% last year. The soil moisture for the corn was rated 41% short/very short and 59% favorable/optimum. The favorable/optimum percentage compares to 69% last week and 71% last year.

The early planted corn was 55% mature and approximately 7% harvested late last week. The later planted corn was 97% pollinated and 16% filling grain late last week. Therefore, if the forecasted rains verify, they would probably help the later planted corn more than the early planted corn.

The Buenos Aires Grain Exchange lowered their corn estimate 1.0 million tons last week to 45.0 million. The USDA left the Argentina corn estimate unchanged last week at 47.5 million tons in the March WASDE Report.