The weather is much of the same down in South America. Brazil?s not seeing any major problems, and, well, Argentina is seeing all of the major problems. Allendale commodity broker Greg McBride provided a breakdown of the latest weather conditions in the two countries.
Brazil is still behind on crop progress due to recent rains, McBride said it?s not enough to raise any huge concerns.
On the other hand, things are getting progressively worse down in Argentina. McBride said that?s largely been factored into the markets already.
The USDA is behind what other estimates are saying about Argentina?s crop. McBride said this is likely because the USDA doesn?t like to make big cuts to their own estimates.
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.
