South American weather is top of mind for grain traders. Bower Trading President Jim Bower says traders are watching Brazil and Argentina’s crop conditions very closely. “I don’t think we can take out the $12 mark unless we get a significant portion of key areas of Brazil or Argentina in some kind of weather fault that really knocks yield down and it’s validated. The way we validate it here at Bower Trading is we have two scouts in South America giving us an update on where things are at.” Dryness in Argentina is the bigger concern. “The heat is a bigger concern than the dryness there as well.”
Subscribe to RRFN
Get a weekly digest from RRFN to stay up-to-date on all the latest news in agriculture.