2022/23 Argentina Soy 82% Planted, Time Running Out to Plant

In Argentina, the soybeans were 81.8% planted as of late last week compared to 93.5% last year and 92.8% average. Hot and dry weather prevailed across most of Argentina over the weekend with temperatures. The soybean planting window in Argentina generally closes about the second week of January, but as of late last week, 19% of the soybeans had not been planted due to dry conditions, which equates to a little more than 3 million hectares. The 2022/23 soybeans in Argentina are rated 38% poor/very poor, 54% fair, and 8% good/excellent. The good/excellent percentage is down 2% from the previous week. The soil moisture for the soybeans is rated 43% short/very short and 57% favourable/optimum. The favourable/optimum percentage is up 1% from the prior week. CBOT Soy bean most active March Contract trading near three weeks high to $15.27/bushel amid increasing concerns about drought hurting crops in Argentina.