The potential for a record corn and soybean crop in South America could put pressure on U.S. commodity prices. Rabobank’s Stephen Nicholson says the weather for Brazil’s planting and growing season was off to a good start, but conditions are getting drier.
“There’s dryness in Mato Grosso and more dryness in northern Argentina, though they’ve had some moisture,” explains Nicholson. “Our analyst in Sao Paulo says this weather pattern is the way the season started last year.
