The weather conditions in South America have been a bit more friendly lately. Allendale commodity broker Greg McBride said that, while some areas are still a little dry, more rains are moving in and providing drought relief.
?We are starting to see more rains come across southern Brazil and eastern Argentina,? McBride said. ?The mainland of Brazil is also seeing some good rains. The northern and northeastern portion of the country is a little bit drier over the next two weeks. Nothing that would necessarily get us too concerned at this point, but it is something that we will have to watch if it exceeds that two-week time period. It could start to dry things out. As far as anything else, it?s not holding them back from their harvest of soybeans or the first crop corn at this point.?
McBride also provided a planting and harvest update for Brazil.
?For second crop corn, the earliest planted corn is pollinating already,? McBride said. ?You?ve got some of the rest of the crop is pretty well planted. As of last week, they were at 84%. They should be winding that down right now. You?ve got harvest going on for first crop beans and corn, so you should be seeing those come to a close here fairly soon. They?re way ahead of last year and the 5-year average for all of the harvest and planting in Brazil at this point. Just based off that early start they got last year, some of the drier conditions pushed that forward as well.?
The team at Allendale can be reached by calling 800-262-7538, or you can visit allendale-inc.com.
