It?s a new year, but we?re still seeing the same issues down in South America. Argentina still doesn?t have an adequate amount of rain. Allendale commodity broker Greg McBride provided an update on the latest weather patterns for Brazil and Argentina.
At this point, McBride said they?re running out of time to get that crop planted in Argentina.
On the other side of things, McBride said Brazil has been able to start harvesting.
McBride said the corn harvest projections are looking strong in Brazil, and the soybean harvest could even shatter some records.
Right now, though, the markets are more concerned about Brazil?s status as our primary export rival. McBride said Brazil has even been shipping corn to China, so they?re positioned to bring some major competition.
McBride also provided some advice for Iowa producers.
The team at Allendale can be reached by calling 800-262-7538, or you can visit allendale-inc.com.
