In today?s South American Weather and Crop Update, Allendale commodity broker Greg McBride explained why Brazil?s soybean crop projections have dropped.
Even though soybean projections are down, that doesn’t mean Brazil will have a bad harvest- the country will still be the world’s top soybean exporter. McBride said that, since last year’s harvest was record-breaking, it can be easy to panic once the numbers come back down to more normal levels.
McBride also provided a weather update for Brazil and Argentina.
McBride added that producers should take advantage of the rallies that have been happening in the markets recently- whether they are bullish or bearish- to help bring up crop sale averages.
The team at Allendale can be reached by calling 800-262-7538, or you can visit allendale-inc.com.
