(KMAland) – Weather patterns in South America haven’t shown much change from week to week.
In this week’s South American Harvest and Weather Update on Iowa Agribusiness Radio Network, Allendale Commodity Broker Greg McBride said drought conditions have occurred in southern Brazil and northern Argentina, while northern Brazil continues to grapple with a slow soybean harvest due to frequent rains.
“The forecast of 1 to 5 days is raining in the north of Brazil and next in the south of Brazil and in the north of Argentina”, says McBride. “Day 6-10, in fact, adds a little rain across the continent of South America. This looks good for southern Brazil and northern Argentina and, obviously, is still a problem for harvesting in the northern layer from Brazil. “
McBride says that both the Brazilian soybean crop and the double crop planting remain well behind the normal rate.
“We’re sitting on 34 percent of the Brazilian crop,” McBride said. “Usually we are halfway there, with 49% or more. In the off-season harvest (corn), they are making some headway. Mato Grosso is the only number I have seen in total so far. They are still far behind, around 30 percent, of what they would normally be at this time of year. “
McBride adds that the United States continues to expect that we will continue to see demand entering the country for corn and soybeans.
“The numbers don’t necessarily show that in the 8 am sales or weekly reports, but it also slows down sometimes,” McBride said. “Next Thursday, when we get our most recent update, it should be able to show us that demand for soy is still prevalent for us.”
You can reach Allendale staff by calling 800-262-7538 or you can visit allendale-inc.com.
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