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November 4, 2020

2020/21 Argentina Corn 30% Planted, Soybeans 2-3% Planted

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

Argentina Corn - The corn planting continues to be getting off to a slow start and it looks like more of the corn than normal will be planted in the second phase of planting starting in early December, or maybe there will be less corn planted than what was earlier anticipated. Planting more of the corn later during the second phase of planting does not necessarily imply lower yields. It does increase the risk to the corn yields especially with a strengthening La Nina.

With more corn planted late and potential dryer than normal weather during the growing season due to La Nina, I think we need to be cautious concerning the Argentina corn production.

The 2020/21 corn crop in Argentina was 29.8% planted as of late last week compared to 40% last year and 36.8% average. This represents an advance of 2.3% for the week. The corn is rated 9% poor to very poor, 55% fair, and 36% good to excellent. The good to excellent is up 2% from the prior week. The soil moisture for the corn is rated 7% short to very short and 93% favorable. The favorable soil moisture is up 7% from the prior week.

The corn planting advanced the most across the central regions of the country. The corn in the norther core and southern core regions was 80-85% planted. In the southern areas, the corn is generally 30-40% planted. In the far northern areas, the corn planting has not yet started.

The early phase of corn planting was 59.6% complete late last week compared to 66% last year and 72.6% average. Farmers would like to have all their early corn planted by the end of October and then they would plant their late corn starting about December 1st. It is unclear at this point if the farmers in Argentina will transfer more of their intended corn acreage to be planted later or if they will reduce their overall corn acreage and plant more soybeans instead.

Argentina Soybeans - I am a little surprised that the Buenos Aires Grain Exchange has not yet published a soybean planted percentage. Last year at this time, the soybeans were 4% planted and the average is 5-6% planted. I am estimating that 2-3% of Argentina's soybeans have been planted, which is a slower than average start.

The weather in most of Argentina was generally dry last week and the forecast is calling for a generally dry week this week. The soil moisture situation in Argentina needs to be watched closely because much of the country is starting off the growing season with a moisture deficient.