Argentina's soybean and corn crop conditions have continued getting worse because of ongoing dry weather, according to the Buenos Aires Grain Exchange (Bage).
Corn and soybean planting was nearly complete as of 15 January, with 95pc and 98pc of areas sown, respectively, but moisture levels and crop conditions have worsened further after declining last week. Meanwhile, the exchange kept its estimate of Argentina's wheat output unchanged at 18.6mn t.
Soybeans
Soybean crops rated "good-to-excellent" fell by 17 percentage points (pp) to 32pc on the week. Crop areas under "adequate-to-optimal" moisture conditions shrank significantly, by 17pp on the week to 60pc, about 32pp below levels at this time last year.
Corn
Corn crop areas rated "good-to-excellent" declined slightly on the week by 3pp to 39pc, while areas rated "regular-to-bad" increased by 5pp to 14pc.
Nationally, the share of corn areas under "adequate-to-optimal" moisture conditions fell by 13pp the week to 64pc because of continued dry weather and warmer temperatures in producing regions. But Bage said it expects forecast rainfall in coming days to lift moisture levels and halt the further deterioration of crops.
Wheat
Bage maintained its wheat production estimate of 18.6mn t for the 2024-25 (December-November) season and reported that the harvest was completed.
Output was 7pc larger than last season and 6pc above the five-year average, it said.
The US Department of Agriculture estimates Argentina's wheat output for 2024-25 at 17.5mn t.