We’re looking at a drier forecast this time in South America, particularly in Brazil. However, that’s what Brazilian farmers want, as they are trying to fully kick off harvest season. Allendale commodity broker Greg McBride gave an update on the latest weather conditions.
Harvest has just kicked off in Brazil, though, so it’s tough to draw any meaningful observations from it yet.
Argentina wants that moisture, however, because they’re trying to finish up planting season down there.
Additionally, following last Friday’s WASDE report, McBride said that some Brazilian farmers have their crop estimates much lower than what the USDA submitted.
The team at Allendale can be reached by calling 800-262-7538, or you can visit allendale-inc.com.
