Brazil is still on the drier side, but continued rain in Argentina is elevating concerns from the excessively wet conditions. Allendale commodity broker Greg McBride gave an update on the latest conditions.
The longer-term forecast also contains rain for Argentina, and McBride said that could cause some adjustments to be made to crop conditions.
With the drier conditions, both planting and harvest progress are continuing nicely in Brazil.
There will be enough rain in Argentina to cause flood issues, but McBride said it’s still important for the markets to not get ahead of themselves yet.
The team at Allendale can be reached by calling 800-262-7538, or you can visit allendale-inc.com.
