Planting is on track down in Argentina. In this week’s South American Weather and Crop Update, Allendale commodity broker Greg McBride said that the dry weather helped farmers get their crops planted, and now they?re looking for some rain to finally appear.
?What we?re looking at, as far as planting progress with Argentina, is in line with the 5-year average for corn,? McBride said. ?They?re 84% planted. Obviously, some of the drier conditions have helped to push that along. The 5-year average comes in at 83%. On soybeans, they are almost done- 93% planted. That?s just ahead of the 5-year average of 92%. So, again, those drier conditions have helped to get the planting done. As we always say here in the United States, you plant in the dust, your bins will bust. Obviously, they will need to see those rains materialize, but, so far, it looks like they?re on pace as far as the planting goes.?
McBride added that the La Ni?a weather pattern will help bring balance to the areas that were too wet or too dry.
?We are going to continue to see those rains, and we?re looking at the La Ni?a pattern that is going on in the world to start to weaken as we go into the end of January and February,? McBride said. ?It doesn?t necessarily look like it?s going completely away, but that will lighten up on some of those areas that were a little bit too wet and some of those areas that were a little bit too dry. It?ll start to balance things out.?
The team at Allendale can be reached by calling 800-262-7538, or you can visit allendale-inc.com.
