The forecast is still very open for harvest to make good progress in Brazil and Argentina. Allendale commodity broker Greg McBride provided an update on the latest South American weather conditions.
McBride said Brazil’s harvest progress is slightly behind, but they’re really not too worried about it.
As for Argentina, McBride said they can finally see the light at the end of the tunnel for harvest.
In the long term, Brazil is still at a discount to U.S. grain, but McBride said American grain prices are actually competitive in the short term.
McBride also offered some advice for Iowa producers.
The team at Allendale can be reached by calling 800-262-7538, or you can visit allendale-inc.com.
