Argentina has started harvesting and Brazil has finished planting corn

According to the Buenos Aires Grain Exchange, as of March 13, 1.99 million tons of corn were threshed in Argentina from 229,000 hectares or 3% of the planned area (2% last week, 7% on average over 5 years) with a yield of 8.71 tons /Ha.

During the week, as a result of heavy rains, the number of corn crops in good or excellent condition decreased from 29% to 25%, in satisfactory condition it remained at 58%, and in poor or very poor condition it increased from 13% to 17%.

We will remind that in the March report USDA experts increased the forecast of corn production in Argentina by 1 million tons to 56 million tons, which will exceed the 36 million tons collected last year by 20 million tons.

In Brazil, as of March 14, soybeans were harvested on 63% of the area (55% last week, 62% last year), the AgRural company reports. Harvesting has also begun in Matopiba and Rio Grande do Sul, where unfavorable weather delayed planting. Abundant rainfall during the late sowings made it possible to obtain a high yield of soybeans in these regions.

97% of the planned area has been sown with second-crop corn in Brazil (93% a week ago, 91% last year), and in the main producing states, work has already been completed. Traders are currently concerned about dry weather in the states of Paraná and Mato Grosso do Sul, while the state of Mato Grosso experienced good rains in March.

Argentina is forecast to experience dry weather in the coming weeks, while central Brazil will receive rainfall, which will support the development of crops and corn harvest and add pressure to quotations.