Despite heavy rains from late December through the middle of January, most of Argentina’s soybeans are in decent shape.
The USDA offered an update of Argentina’s outlook in its Feb. 9 World Agricultural Production report.
The agency noted that flooding in 2016/17 led to more field losses in the core growing regions compared to 2015/16 due to excessive wetness, more frequent showers and a longer duration of the flood events.
Still, 80% of Argentine soybeans are favourable, according to the report.
Argentina is forecast to bring in 55.5 million metric tons of soybeans for the 2016/17 season, 3% less than last month and 2% less than last year.
Area is at an estimated 19 million hectares, down 2% from last month.
The USDA said rains continue to replenish soil moisture in southern Buenos Aires province where drought was prevalent earlier.
Planting is finished with over 43% of the crop in flowering to early pod set. Forty-seven per cent of the crop is developing pods.
First-crop soybeans account for 80% of Argentine soybeans. Second-crop soybeans, which are planted after wheat is harvested, account for the remainder.