There aren’t really any market movers in the weather forecasts for Brazil and Argentina currently. Allendale commodity broker Greg McBride gave an update on the latest conditions.
Harvest in Brazil is slightly behind the averages, but planting for the safrinha corn crop has completely wrapped up.
Ahead of this month’s WASDE report, McBride said other organizations have made some changes to their crop projections, but they’re still significantly lower than what the USDA is saying.
However, McBride said it is expected that the USDA will be making cuts to their South American estimates in the WASDE report later this week.
The team at Allendale can be reached by calling 800-262-7538, or you can visit allendale-inc.com.
