Varying weather conditions across South America are causing very different issues between Brazil and Argentina. Allendale commodity broker Greg McBride provided an update on the weather for the two countries.
Wet conditions in Brazil are causing farmers to consider replanting some of their crops. McBride said planting is ahead of the 5-year average, but behind last year’s progress.
On the other hand, McBride said farmers in Argentina are dealing with complications from drought conditions.
South America has also seen good export demand recently. McBride said that, as far as soybeans go, prices are similar between the U.S. and Brazil, so it?ll come down to who can export more easily.
McBride added that the main market focus is on the weather conditions in South America right now.
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.
