Argentina’s soybean yield cut

According to a report by the Buenos Aires Grains Exchange, in the week to April 13, the country's soy yields dropped to historical lows, while its corn yields were stable at a depressed level

April 14, 2023

By Marcela Caetano

Argentina’s soybean yields dropped to historical lows while corn yields were stable at a depressed level in the week to April 13, Buenos Aires Grains Exchange’s (BAGE) weekly report showed on Thursday, April 13.

Once again, BAGE warned that its projection for the country’s soybean output, currently at 25 million mt, could be reduced if this scenario persists.

On Thursday, Bolsa de Comercio de Rosario (BCR) cut its forecast for the country’s soybean crop to only 23 million tonnes and corn crop to 32 million tonnes, down 4 million tonnes and 3 million tonnes from a month earlier, respectively.

The soybean harvest advanced to 4.3% of the 16.2 million hectares projected area, a 1.4 percentage points increase on the week, BAGE said.

The average yield was pegged at 14.4 quintals per hectare, down from last week’s 14.8 quintals per hectare.

Areas in good-to-excellent condition declined one percentage point to 3% of the total crop area, while the area considered in poor-to-very poor condition declined by the same amount to 65%.

The area rated as fair advanced by two percentage points up, at 32%.

Dry areas are now 53% of the crop, down one percentage point from last week. At the same point last year, dry areas accounted for 17% of the crop.

Corn yields

The corn harvest advanced 2.3% from a week earlier to 12.7% of the 7.1 million tonnes crop area, with a national average yield of 39 quintals per hectare.

Output estimate remained unchanged at 36 million tonnes.

Areas in good-to-excellent condition dropped one percentage point to 6% of the total area, while areas considered poor-to-very poor increased by the same amount to 53%.

Areas rated as fair are stable at 41%.

Areas considered in dry condition increased by one percentage point to 46%.

Sunflower yields

The sunflower harvest advanced 5.8 percentage points on the week to 91.1% of the planted area, with an average yield of 19.7 quintals per hectare.

Argentina’s production remains projected at 3.9 million tonnes.

Sunflower areas in good-to-excellent condition increased to 21%, a 2 points weekly advance, while poor-to-very-poor areas moved down by the same amount to 17%.

Dry areas are now 21% of the crop, up 5 points from the prior week.

The national sunflower output projection remains unchanged at 3.9 million tonnes.