The rain has decided to stick around in Argentina. This means the U.S. grain markets will continue to see pressure. Allendale commodity broker Greg McBride provided an update on the latest weather conditions for Brazil and Argentina.
McBride said they’re pretty much done planting in Argentina, so this rain will help establish what’s already in the ground.
As for Brazil, McBride said they’ve seen quite a bit of rain recently, which is only adding to the already lofty expectations for this season’s crop.
McBride added that Brazil’s deal with China could sizably increase their corn exports, but soybeans could struggle, which is a bit of an inverse from what we’re seeing in the U.S.
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.