Even though the primary market focus is on Russia and Ukraine right now, it?s still important to keep an eye on the conditions in South America. Allendale commodity broker Greg McBride said the recent rains were good to see, but the resulting humidity is starting to cause some damage.
McBride also provided a harvest and planting update for Brazil.
The crop outlook in South America varies from country to country, but there?s quite a bit of weakness due to drought overall. This situation should provide some pretty good benefits to the U.S. grain markets. However, McBride said we can?t forget about our own potential for drought back here in the U.S., and the situation with Russia and Ukraine will continue to cause some export stress.
McBride added some advice for producers who are looking to take advantage of the market conditions and drive some profits.
The team at Allendale can be reached by calling 800-262-7538, or you can visit allendale-inc.com.
