AUDIO: South American Weather & Crop Update 11-23-2021
Planting pace continues to move fast in South America?s major crop areas.
In this week?s South American weather and crop update on the Iowa Agribusiness Radio Network, Allendale commodity broker Greg McBride says Brazil and Argentina continue to receive timely rain showers which are helping move along this year?s crop.
?As we go into the reproductive phase for some of the early corn in Argentina, we are seeing rain down there and that is a good sign,? McBride said. ?That?s good for production, similar to what we look for in July for our own crops. That looks like it will continue for the next 6 to 10 days. There is some rain in the 11-to-15-day forecast, but that one we don?t put as much stock into. It?s the immediate 10 day forecast that we?ll be watching.?
McBride talks about the current planting progress in both Brazil and Argentina. He says things continue to move fast on that front.
?We?re still running ahead of pace for Brazil when it comes to their first crop corn, sitting at 86%,? McBride said. ?That?s right ahead of the five-year average and 6% ahead of last year. When it comes to their soybeans, they are flying right now at 78%. That is 11% ahead of the five-year average and 13% ahead of last year. They are continuing to plant fast. The rains have helped to keep the soil moisture and have helped with their early progress. This leads us to some ideas that we will see them start to harvest some of that early crop in maybe mid-to-late January as opposed to starting in February and mid-February.?
The team at Allendale can be reached by calling 800-262-7538, or you can visit allendale-inc.com.
