Things are cooling off in South America right now. Brazil?s forecast looks very supportive, and, while Argentina is going to be a little dry, things could be a lot worse down there. Allendale commodity broker Greg McBride said that there shouldn?t really be any major stress on their crops for the time being.
Argentina also released some updated crop progress numbers. McBride said they?re keeping an eye on how quickly they?re going to be able to move things along.
McBride also provided an update on planting and harvest progress for Brazil.
Last week, we?d heard some rumors of strikes developing in the Argentina trucking industry. Those strikes have finally come through, which is causing some disruptions. However, McBride said these strikes are often resolved quickly, so we shouldn?t see too many issues come from this down the line.
McBride added some advice for Iowa producers.
The team at Allendale can be reached by calling 800-262-7538, or you can visit allendale-inc.com.
