The weather is still dry in South America. This doesn?t affect Brazil much since they are between harvest seasons, but it is helping harvest in Argentina move along. Allendale commodity broker Greg McBride provided an update on the latest conditions.
With Brazil?s record crop, McBride said there are rumblings that their largest private port will move a record amount of grain as well.
Brazil?s crop also continues to look bigger and bigger, but the markets have already figured a record-breaking crop into the prices already.
On the flip side, Argentina barely even has half a crop, and the USDA?s estimates should continue to gradually decrease.
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.