Despite weather concerns for the crops in Brazil, the USDA increased the crop projections for both Brazil and Argentina in the latest WASDE report. Allendale commodity broker Greg McBride said he was expecting to see a cut to the Brazil crop, which is still possible for the next WASDE report.
McBride said the Brazilian forecast still contains plenty of dry weather.
At the very least, the dry weather in South America is allowing for harvest progress to continue.
The team at Allendale can be reached by calling 800-262-7538, or you can visit allendale-inc.com.
