The major corn and soybean growing areas of South America are getting some rain this week. World Weather Incorporated Senior Agriculture Meteorologist Drew Lerner says relief won’t come for everyone at once and dryness across Brazil remains widespread. “Much of central and northeastern Brazil got timely rain last week and they’re not hurting outside of a few areas yet, but in a few days this may be a different story. Getting rain to happen will be extremely important. If there are any signs rains will falter, this may drive the marketplace crazy.” Lerner says most of Argentina won’t get enough volume in the rains to fix the long-term moisture deficit. “As long as La Nina is still in the neighborhood, there is the potential for more dryness. We may not be out of the woods, but we’ll get a temporary reprieve.”
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