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April 14, 2021

Argentina Soybeans 3.6% Harvested, Early Yields Disappoint

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

There were good rains across central and southern Argentina over the weekend with amounts of 2-5 inches in Cordoba, Santa Fe, entre Rios, and Buenos Aires. The weekend rains slowed harvest progress, but the forecast is for dryer weather this week. The 6-10 day forecast is for showers to return to western Argentina.

The soybeans in Argentina were 3.6% harvested late last week compared to 16.2% last year and 15.9% average. This represents an advance of 2.8% for the week. Early soybean yields are highly variable and generally disappointing. The Buenos Aires Grain Exchange reported that the average nationwide yield thus far is 3,110 kg/ha (46.3 bu/ac) with a range of 1,250 to 5,200 kg/ha (18.6 to 77.4 bu/ac).

Below is a graphic from the Buenos Aires Grain Exchange showing the Nationwide Soybean Harvest Progress. The green shaded area is the maximum and minimum and the black line is this year's harvest progress.

chart

The soybeans were rated 32% poor/very poor, 59% fair, and 9% good/excellent. The good/excellent percentage compares to 8% the prior week and 27% last year. The soil moisture for the corn was rated 22% short/very short and 78% favorable/optimum. The favorable/optimum percentage compares to 72% the prior week and 87% last year. The earlier planted soybeans are 74% mature, while the later planted soybeans are 23% mature.

In their April WASDE Report, the USDA left their estimate of the 2020/21 Argentina soybean production unchanged at 47.5 million tons. The Buenos Aires Grain Exchange lowered their estimate of the 2020/21 Argentina soybean production by 1.0 million tons to 43.0 million.