The conditions in South America still haven?t changed much. Both Brazil and Argentina are wrapping up harvest, and it?ll be a while before the markets start to focus on them again. Allendale commodity broker Greg McBride provided an update on the current weather patterns for the countries.
Since there?s not much new happening in South America, the markets are completely focused on our own crop. McBride said we?re in the middle of an intense weather market, which is why we?ve seen such incredible volatility at every change to the weather forecast.
Every year, we see the markets get really fickle like this. This can be frustrating sometimes because, more often than not, the crop pushes through its challenges anyways. McBride said the markets basically become a beauty pageant around this time year.
With the markets focusing less and less on South America, we?re going to take a little break from these South America updates until the markets shift back. McBride said the markets will start looking again when early planting starts in late August or early September.
The team at Allendale can be reached by calling 800-262-7538, or you can visit allendale-inc.com.
