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October 31, 2012

Wet Weather Continues to Slow Planting Progress in Argentina

Argentina soybeans - As the weather permits, farmers who have finished planting their corn will now start to plant their 2012/13 soybean crop. Nationwide, approximately 2% of the soybeans have been planted compared to 6% last year at this time. Early to mid-October is the ideal time to start planting soybeans in Argentina, so planting is getting started a little late.

There is the possibility that some of the intended corn acreage in Argentina might get switched to soybeans instead due to wet conditions. It is too early to say that will happen, but if it continues to be too wet, then the soybean planting might be delayed as well

Argentina corn - Wet weather in Argentina continues to slow the planting pace of the 2012/13 corn crop. Corn planting in Argentina only advanced 5% last week to approximately 37% to 38% planted, which is about 18% slower than last year's pace. The most advanced corn planting is occurring in the central, north-central, and eastern regions where 60% to 80% of the corn has been planted. In southern Argentina approximately 20% to 30% of the corn has been planted. The northern regions are the slowest at 0% to 15% planted.

In the areas of heaviest rainfall, some of the corn will need to be replanted once it dries out. There have also been reports of yellowing corn and increased fungal and root diseases. Some of the earliest planted corn was also impacted by freezing temperatures in late September.

If the wet weather continues in Argentina, there is a growing possibility that some of the intended corn acres may eventually bet switched over to additional soybean production. How much that might get switched is a matter of speculation, but it could be as much as several hundred thousand hectares.