The immediate forecast for Argentina is still dry, but more extended forecasts show some moisture finally returning to the area. Allendale commodity broker Greg McBride provided an update on the latest weather patterns for Brazil and Argentina.
McBride said this rain would definitely help to stabilize things, but there are concerns that they have irreversible damage already.
McBride said this week?s WASDE report will likely see cuts to production in Argentina, but Brazil will likely see things stay fairly static as they continue to expect a record crop.
Even with Argentina?s lackluster planting season, McBride said Brazil?s crop will be more than enough to offset any production cuts.
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.
