Much of South America is dry again this week. This is good news for farmers who are looking to wrap up harvest and receive some flood relief. Allendale commodity broker Greg McBride gave an update on the latest weather patterns.
First crop corn harvest is pretty well finished in Brazil, and McBride said some farmers are even starting to harvest safrinha corn.
Soybean harvest in Argentina is almost done as well, but the corn harvest continues to lag behind.
McBride said that the extra moisture in Brazil is still raising flooding concerns.
McBride added that a private analyst from StoneX made cuts to expectations for the South American crop, which is closer to what CONAB expects.
The team at Allendale can be reached by calling 800-262-7538, or you can visit allendale-inc.com.
