South American soybean producers continued to make good progress planting their 2006-07 crops last week as weather conditions remained mostly favorable.

Private analyst Safras & Mercado pegged Brazilian planting progress at 77% as of Nov. 24, up from 63% a week earlier and ahead of the five-year average of 74%.

Another private Brazilian consulting firm, AgRural, estimated that 84% of Brazil’s soybean crop had been planted as of Friday, up from 70% a week earlier.

Safras pegged planting progress in Brazil’s top soy producing state of Mato Grosso at 91%, ahead of an average of 81%, while AgRural estimated that 99% of the Mato Grosso crop was already in the ground.

Wet conditions have slowed planting progress somewhat in Brazil’s southernmost producing state of Rio Grande do Sul, but producers there had still managed to plant 58% of their crop, vs. a normal pace of 65%, according to Safras.

In Argentina, soybean planting continued to advance at a good pace last week, although progress was estimated to be slightly behind a year earlier as of Friday. Argentina’s government pegged planting progress as of Nov. 24 at 53%, while the Buenos Aires Cereals Exchange pegged progress at just below 56%.

The government reported producers in Argentina’s top soy province of Cordoba made steady planting progress thanks to sufficient soil moisture.

"The crops are generally emerging well (and) with respect to their health, no serious problems have been registered," the agriculture secretariat said in its weekly crop update.

The cereals exchange, however, reported some planting delays due to a lack of moisture in the north of Cordoba.

The government said that hail storms had forced some replanting of soy fields in the second-largest producing province of Santa Fe. In No. 3 grower, Buenos Aires province, sowing is well advanced, although renewed soil dryness has slowed progress in central and southern districts.

Editor’s note: Richard Brock, The Corn And Soybean Digest's Marketing Editor, is president of Brock Associates, a farm market advisory firm, and publisher of The Brock Report.

To see more market perspectives, visit Brock's Web site at www.brockreport.com.