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January 19, 2021

2020/21 Argentina Corn 90.9% Planted, Rated 19% Good/Excellent

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

Argentina received two episodes of rain last week, one early in the week and one late and the temperatures cooled as well. Many areas received a good rain, but the distribution was unequal once again. The forecast is calling for a hotter and dryer pattern to return in the short term. Any forecasted rainfall appears to be more likely across the northern part of the country.

The 2020/21 corn crop in Argentina was 90.9% planted late last week compared to 91% last year and 90.4$ average. This represented an advance of 5.6% for the week. The only area left to plant corn is far northern Argentina where the corn is 50-60% planted. The early planted corn is about 60% pollinating and 18% filling grain. The later planted corn is just barely starting to pollinate.

The corn was rated 16% poor to very poor, 65% fair, and 19% good to excellent. The good to excellent compares to 12% last week and 55% last year. The good to excellent improved 7% from last week. The soil moisture for the corn was rated 20% short to very short and 80%favorable to optimum. The favorable to optimum percentage compares to 70% last week and 91% last year. The soil moisture improved last week and the corn condition improved - just as you would expect.

The soil moisture improved for both crops, but the soybean condition declined by 9% while the corn condition improved by 7%. It is hard to explain this discrepancy and I don't have an answer.

The Buenos Aires Grain Exchange is estimating the corn production at 47.0 million tons while the USDA is estimating the crop at 47.5 million tons which is down 1.5 million from their December Estimate. The Rosario Exchange is estimating the crop at 46 million tons, which is down 2.0 million from their last estimate. In 2019/20 Argentina produced 51.0 million tons of corn.