Same old song and dance this week as far as South American weather goes. It’s still a tale of two countries: Brazil has favorable conditions, and Argentina is still dry. Allendale commodity broker Greg McBride provided an update on the latest weather patterns for the two countries.
No updates to the planting progress numbers for the two countries either, but we can assume that it’s also much of the same given the weather conditions. McBride said Brazil is making good progress, but Argentina is still waiting on some much-needed moisture.
McBride added that, while this is an unfortunate situation for Argentina, it’s a positive influence on the U.S. grain markets.
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.