Southern Brazil should see some good rains, which will help with that safrinha corn crop, but otherwise it?s still dry in Brazil in Argentina. Right now, they?re mostly just trying to get the rest of their crops out, so this is largely a good thing. Allendale commodity broker Greg McBride said Argentina especially is ready to get that crop out of the field.
McBride also provided a crop progress update for Argentina and Brazil.
(Argentina)
(Brazil)
Additionally, reports came out today saying that China has met the phytosanitary requirements to be able to import corn from Brazil. McBride said this could open up an opportunity for U.S. grain exports to other countries, or it could cause an uptick in exports to some of our current trading partners.
McBride also provided some advice for Iowa producers. He said it?s still a good idea to keep an eye on these markets to take advantage of the prices while you can.
The team at Allendale can be reached by calling 800-262-7538, or you can visit allendale-inc.com.
