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South American weather and crop update (2-23-2021)

Weather radar by Accuweather

Periods of warm and dry weather is expected across southern Brazil and northern Argentina as the week progresses.

In this week’s South American weather and crop update on the Iowa Agribusiness Radio Network, Allendale commodities broker Greg McBride says good rains have occurred across southern Brazil and parts of Argentina the last few days. However, McBride says that’s expected to change over the next 10 days.

“That (area) is going to be warmer and dryer over the next 10 days and that is a concern for the maturation of those crops down there, especially on the soybean side of things,” McBride said. “In the northern two-thirds portion of Brazil, we actually have too much rain. That’s been a condition we’ve seen for the last few weeks. That’s why their harvest is so far behind. Right now, their harvest is about 15 percent complete where normally it would be about 30 percent. Still way behind there, which puts their safrinha corn planting behind as well.”

Reports say Mato Grosso in Brazil has 35 percent of its expected record large second crop corn acreage planted. The average pace for this date would be 58 percent.

“That doesn’t necessarily mean we will see issues as far as production or anything like that,” McBride said. “A lot of times what that means when they get behind is that it just delays the shipments they could make once they get to that harvest time frame in May and June. For right now, it is more of a delay issue on the export side of things.”

BAGE reported that 11 percent of Argentina’s soy crop is rated poor to very poor, up from 8 percent last week. McBride noted that the sluggish soybean harvest pace in Mato Grosso will continue to hold back Brazil’s overall national harvest progress.

The team at Allendale can be reached by calling 800-262-7538, or you can visit allendale-inc.com. McBride’s full radio interview can be heard below.

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