Recent rainfall in Argentina benefited northern and central growing areas by replenishing soil moisture levels, which in turn supported crop growth. However, drier weather is anticipated across Argentina for the current week, with improved prospects of rainfall expected during the final week of February.

As of last week, 43% of soybeans in Argentina were setting pods, with 13% filling pods. Favorable weather conditions during the previous week helped stabilize the crop, maintaining the percentage of soybeans rated as good/excellent at 31%. Given the generally positive short-term forecast, the Argentine soybean estimate remains unchanged this week at 50.0 million. While there are no reports of soybean harvesting yet, some fields may be harvested by the end of this week or early next week.

Soybeans in Argentina were rated as 19% poor/very poor, 50% fair, and 31% good/excellent as of late last week, with no change in the good/excellent percentage compared to the prior week. Soil moisture conditions for soybeans were rated as 27% short/very short and 73% favorable/optimum, representing a 13% increase in favorable/optimum conditions from the previous week.