After a mammoth harvest pushed down prices, demand is pushing prices back up, and U.S. farmers are turning their attention to South America’s crop progress, Pro Farmer Editorial Director Chip Flory told AgDay.
“We’ll be switching our focus away from demand back to the production with what is going on down in South America,” he says.
Flooding and drought devastated the corn and soybean harvests of Brazil and Argentina earlier this year. The shortfall left the U.S. as China's primary supplier of soybeans.
So far, despite La Nina conditions building, forecasters are predicting good weather for South America, which is currently planting new crops.
For the full AgDay segment, watch here: