Conditions haven’t changed much in South America. There’s still quite a bit of dryness, which is allowing harvest to continue at a good pace. Allendale commodity broker Greg McBride said they’re looking at finishing harvest soon.
McBride also provided a crop progress update for Argentina.
Of course, there are still things to watch for. McBride said South America’s monthly reports are important to look at since they will give a good idea of how their crop is comparing to previous years. When that crop runs low, some of that demand will start to head to the U.S.
Since the weather in South America has been unproblematic recently, the markets have largely been focused on the weather in the U.S. McBride said we might see a shift to cooler weather, which could prove crucial during pollination.
McBride added some advice for Iowa producers.
The team at Allendale can be reached by calling 800-262-7538, or you can visit allendale-inc.com.