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October 19, 2016

Argentine Corn Planting 32%, Soybeans 1%

The weather in Argentina is improving. It has generally been dryer than normal especially west and north, but, the weather last week and over the weekend improved with scattered showers in many of the central and eastern areas. The soil moisture has been on the dry side, but it has actually encouraged a faster than average planting pace for the corn.

Farmers in Argentina took advantage of generally good planting conditions last week to advance corn planting by 6% to 32% complete. This compares to 28% last year and 29% average.

The most advanced planting is in the core regions where 75-80% of the corn has been planted. In southern Argentina the corn is 10-40% planted while 0-15% is planted in northern Argentina. Corn planting in Argentina is very spread out and it won't hit 95% planted until the end of January.

The most advanced corn is generally in the V-4 to V-5 stage (4-5 leaf stage) and the corn that has emerged is rated 70% good to excellent. A few very early planted corn fields are approaching pollination in the province of Corrientes, which is located in far northeastern Argentina.

I have not heard of any soybeans being planted in Argentina as of yet, which is a little surprising. I am sure there are some fields already planted because the average planting pace for this time of the year is approximately 2%. Therefore, I am going to estimate that 1% of the soybeans in Argentina have been planted. November and December are the main soybean planting months in Argentina and the planting should reach 95% complete sometime in early to mid-January.

I continue to feel the soybean acreage in Argentina will decline 3% and I don't see the limited action by the government to reduce soybean export taxes in northern Argentina as being enough to change the overall acreage picture. Most analysts in Argentina feel the 2016/17 soybean acreage will decline 2-3%.