A commodity broker says uncertainty about South American soybean production could add more volatility to the markets.
Jeff Peterson with Heartland Farm Partners tells Brownfield analysts will raise Brazil’s production estimates by 1 to 3 million tons. “About 15 percent of Brazil has areas of moisture has been lower that has been hurting yield. There’s about 40 percent that I would say is about trendline. There’s about 45 percent of Brazil as you move further north that is above the trendline.”
He says even with lower production in Argentina due to drought, the South American crop will create more competition for US producers.
