South America has good crops coming. “If you look at the numbers we have from Brazil and Argentina in the latest USDA report, there’s an increase in the soybean numbers to 125 million metric tons. That’s much bigger than where they were last year at this time,” says Steve Georgy, President, Allendale. “Of course, they increased their corn crop as well. Their crop is getting a bit bigger. If we were thinking our markets were going to be friendly, we need to have this in the back of our mind.” Georgy says Brazil’s soybeans are still cheaper than U.S. soybeans. “That may shift demand as well, but they are doing very well. They also don’t have many problems.”
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