Argentina will see a significant reduction in soybean production through the end of the 2022-23 marketing year, according to the USDA’s latest World Agriculture Production report released on April 11.
Argentina corn production for marketing year 2022/23 is estimated at 37.0 million metric tons, down 8% from last month, and down 25% from last year. Corn yield is estimated at 5.52 tons/hectare, down 7% from last month, and down 21% from last year.
Harvested area is estimated at 6.7 million hectares, unchanged from last month, and down 6% from last year.
Heat and dryness impact yield
Yield is down month-to-month due to heat and dryness that impacted the late-planted corn, which accounts for roughly two-thirds of area.
Temperatures during March were well above normal, with many days above 35 degrees Celsius. Dryness continued until about late March when rainfall occurred.
According to FAS Buenos Aires, who conducted crop assessment during March, the late-March rainfall was too late to benefit the early-planted corn and may only marginally help the late-planted corn.
Harvest for corn has begun and according to the Bolsa Cereales in Buenos Aires, about 10% of the crop has been harvested as of early April. Yields are well-below average. Harvest will continue until early August.
Brazil: No change to corn production
Brazil corn production for marketing year (MY) 2022/23 is estimated at a record 125.0 million metric tons (mmt), unchanged from last month, and larger than last year’s crop by 9.0 mmt (8%).
Total harvested area, for all three corn crops, is estimated at a record 22.7 million hectares (mha), up 0.9 mha (4%) from last year. Yield is estimated at 5.51 tons/hectare, 3% above last year’s crop, and 6% above the 5-year average yield.
Russia: High corn production despite delayed harvest
Russia corn production for marketing year 2022/23 is estimated at 15.8 million metric tons (mmt), up 13% from last month and 4% from last year.
Total corn yield is estimated at a record 6 tons/hectare (t/ha), up 7% from last month and 14% from last year. Total harvested area is estimated at 2.6 million hectares (mha), up 6% from last month, but down 9% from last year.