Argentina's soybean crop sowing is 94.8% complete: BAGE

The sowing of Argentina's soybean crop reached 94.8% complete in the week just ended as rainfall over the last seven days has improved the availability of water in large sectors of the agricultural area, the Buenos Aires Grains Exchange (BAGE) stated in its weekly report released late Thursday.

Planting is 3.8 percentage points behind last year and below the 99.3% average of the last five years.

Acreage was kept unchanged at 16.4 million hectares. 

However, the accumulated rainfall has not yet completely reversed the water deficit and its impact on crop condition, BAGE stated.

Of the area currently planted, 52.2% was rated at a regular or dry water condition, 8.2 percentage points lower than the previous week.

BAGE rated 30% of the area as good or excellent, 1 percentage points down on the week, while normal rated areas reached 43%, a 3 percentage points weekly increase.

Areas rated as average or bad decreased just 2 percentage points to 27%.

Corn

The sowing of the corn crop reached 87.9% complete, a 3.5 percentage points weekly advance, but still 5.5 points behind last year.

The production forecast remains unchanged at 57 million mt from 7.3 million hectares.

According to BAGE, rain continues to delay planting while providing relief for late-planted areas.  

Areas sowed earlier are in critical stages of development and continue to deteriorate.

BAGE rated 22% of the area as good or excellent, 1 percentage point below last week, while normal rated areas remained unchanged at 41%.

Areas rated as average or bad reached 37%, a 1 point weekly advance.