While drier conditions still remain in South America, recent rainfall has caused a notable improvement. Allendale commodity broker Greg McBride gave an update on the latest forecasts for Brazil and Argentina.
Currently, farmers in Brazil just wrapped up first crop corn harvest and are waiting to start on the safrinha crop. McBride said harvest is almost finished for the crops in Argentina as well.
Here in the U.S., the grain markets are looking ahead to this month’s WASDE report, which will release later this week. McBride said he doesn’t expect to see many changes to the South America crop numbers, if there are any at all.
The team at Allendale can be reached by calling 800-262-7538, or you can visit allendale-inc.com.
