South American weather could spell opportunities for U.S. growers. After the second whole week of the new year, dryness continues to expand in Argentina and southern Brazil. Crop estimates for Brazil remain healthy, thanks partly to some precipitation in the country’s northern half. But forecasts for Argentina continue to be reduced. The weather pattern could change later this month into February, possibly bringing rain to the region.
Hot and dry conditions are no stranger to South American countries, particularly Argentina, which is in one of the worst droughts they’ve faced in 60 years. If the drought continues, U.S. corn and soybean growers could reap the benefits of a larger market share – so long as U.S. growers receive adequate precipitation, as well.
Read more on South American weather and crop forecasts here.
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