More rain in the forecast for Argentina means they?re finally getting close to the end of planting season. On the other hand, the fabulous weather in Brazil has produced an enormous crop, which is stirring excitement in South America as Brazilian harvest begins. Allendale commodity broker Greg McBride provided a breakdown of the latest weather patterns for Brazil and Argentina.
McBride said the rain in Argentina has allowed planting progress to match or even exceed the average levels.
As Brazil begins to harvest, McBride said it?s looking like they might have a literal bin buster of a crop.
Now that we have a pretty good idea of just how big Brazil?s crop will be, McBride said that Brazil?s relation to the U.S. grain markets will be the main focus for the foreseeable future.
McBride also provided some advice for Iowa producers.
The team at Allendale can be reached by calling 800-262-7538, or you can visit allendale-inc.com.
