In the March WASDE report, the USDA made some adjustments to the South American crop estimates. The changes were mostly offsetting, so overall production has not seen much of a change. Allendale commodity broker Greg McBride said they are waiting for the CONAB estimates to come out soon so they can make comparisons.
The weather forecasts are dry right now, but McBride said rain will likely return to both countries soon.
Since the crops in Argentina are past the yield determination phase, any rain they do get will have much less of an impact.
The team at Allendale can be reached by calling 800-262-7538, or you can visit allendale-inc.com.
