South American farmers were glad to see some rains this week, as they had been seeing some rather dry conditions lately. Allendale commodity broker Greg McBride provided an update on the latest weather patterns for Brazil and Argentina.
Planting season is also underway in both Brazil and Argentina. McBride said that some parts of Brazil have actually been dealing with issues from almost getting too much rain.
South American grain prices are still lower than ours, which is exerting pressure on U.S. grain prices. While we have been lucky to still see some export sales to places like China, McBride said they might start looking at the discounted South American grains soon if our own shipping issues continue.
McBride added that it doesn?t matter if you?re talking about the U.S. or South America- weather will continue to be the main focus for quite a while.
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.
