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May 22, 2019

Argentina Soy 77% Harvested, Corn 34%, Strong Yields for Both

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

Argentina Soybeans - The soybeans in Argentina are 76.7% harvested, which represents an increase of 9.3% for the week. In the core production areas the soybeans are 95% harvested with 50-70% harvested in the southern locations and 15-40% harvested in far northern Argentina.

The running average yield for the soybeans harvested thus far is 3,590 kg/ha (53.1 bu/ac), which is down 1.2 bu/ac from the prior week. Even though this makes five weeks in a row that the soybean yields have declined, the soybean yields are still coming in better than expected. Approximately 86% of the early planted soybeans have been harvested and they are averaging 3,770 kg/ha (55.7 bu/ac) while the late planted soybeans are 56% harvested and they are averaging 2,970 kg/ha (43.9 bu/ac). Soybean yields are surpassing the 5-year average and they are record high in some locations.

Some soybean acres have been lost in northern Argentina due to localized flooding, but the continued better than expected soybean yields in the remainder of the country have been good enough to more than compensate for the lost average. As a result, the Buenos Aires Grain Exchange increased their estimate of the 2018/19 soybean crop by 1.0 million tons to 56.0 million tons.

Argentina Corn - The corn in Argentina is 34% harvested, which represents an advance of only 1.8% for the week. In the core production areas, the corn is 85-90% harvested with 20-40% harvested in southern Argentina and 0% harvested in far northern Argentina. Most of the harvest progress last week was in the central and southern locations. Very little harvest progress was made in the more northern locations due to wet conditions.

The running average yield for the corn harvested thus far is now 9,560 kg/ha (147.2 bu/ac), which is down 0.9 bu/ac from the prior week.