Brazil received some welcomed rains recently. Allendale commodity broker Greg McBride said that they could have a really nice safrinha corn crop if these rains keep coming.
?Right now, the weather in South America actually looks pretty good,? McBride said. ?We got good rains across Brazil. We?ve got some portions maybe out to the far eastern portion that are a little bit on the drier side, but nothing that would be a concern right now. Looking at the 6-to-10-day forecast, it gets a little more sporadic and a little drier. Same thing in the 11-to-15-day. This is about the time of the year in Brazil where they tend to dry out a little bit. As we go into April, that?s the dry period, so it?ll be crucial for them to continue to get these rains and then, hopefully, push this safrinha crop through.?
Speaking of that safrinha crop, McBride provided an update on Brazil?s planting progress.
?They?re 94% planted for that safrinha crop,? McBride said. ?That has gone in an ideal timeframe. They look fantastic as they?ve been planting it. Some of the earliest stuff is actually pollinating right now, so it?s pollinating in ideal conditions. That is something that we watched last year when they struggled mightily after that bean harvest- getting that corn planted in dry conditions and growing it through dry conditions. This year, not as much the case, and they should have a pretty good corn crop down in South America- specifically Brazil. We were talking about 110 to 115 mmt for that crop, and that should be a record for them this year.?
The team at Allendale can be reached by calling 800-262-7538, or you can visit allendale-inc.com.
