Argentina crop size getting smaller “on a weekly basis”
Adverse weather in Argentina continues to curb expectations for corn and soybean production.
Market analyst Michael Cordonnier with Soybean and Corn Advisor in Hillsdale, Illinois tells Brownfield heat and dryness are taking a toll.
“It was very hot for a couple of weeks. That has eased off, but there has not been enough rain to replenish the soil moisture. So estimates for both corn and soybeans in Argentina keep going lower on a weekly basis.”
He says conditions have been more favorable in Brazil.
“Especially in the central part. They could use some more rain down in the southern part, but the dryness is probably impacting the first crop of corn more so than the soybeans.”
Cordonnier says despite some adverse weather, South American soybean production is expected to be about 30 million tons above last year.