Corn yields in Argentina estimated to be down 30%

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The Rosario Board of Trade in Argentina recently projected corn yields to be down 30% due to stunt spiroplasma disease. That estimate would lower the country's production by 7 million metric tons to 50 million metric tons. Spiroplasma disease stunts corn growth and turns leaves red. The disease was caused by three consecutive years of La Niña with severe drought and high temperatures.

The first two weeks of April for the major corn and soybean producing provinces had 50% more rainfall than the five-year average. Some producers reported difficulties moving equipment due to excess water. The forecast clears up for most regions starting this week.

Brazil

Brazil's National Supply Company updated estimates for the second corn crop at 86.5 million metric tons, which is down from the previous projection of 87.3 million metric tons.

Weather challenges continue. The lack of rain in Mato Grosso do Sul has slowed down planting with only 10% done. Where the weather has improved, planting progress has increased significantly. In Mato Grosso, planting jumped from 18% to 48% in one week. There are also favorable conditions in Goiás and Paraná.

After several days of rain, more precipitation is expected this week in Mato Grosso. Mato Grosso do Sul has had no rain in key producing regions last week and forecasts show less than one inch in the first three days of this week.

As soybean harvest wraps up - 85% complete overall - some states are seeing delays. Rio Grande do Sul has 50% complete compared to the 65% five-year average. The state is expected to have a record harvest of 22 million metric tons. Many farmers have sped up harvest in the last few days as the forecast calls for 2 inches of rain this week, according to Climatempo. Last year, Rio Grande do Sul was hit hard by a drought and only harvested 12.6 million metric tons of soybeans.

Paraguay

In Paraguay, the third largest soybean producer in the region, a record crop of 10.4 million metric tons is projected by the country's Chamber of Cereal and Oilseed Processing. However, transporting corn from this landlocked country will be difficult this year with low river levels that connect to Brazil and Argentina.

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