Some believe the South American crop is smaller than the market consensus.
Indigo global analyst Rodney Connor expects corn to be about 10 million metric tons less than USDA’s latest projection, and says the Ag Department’s soybean estimate is 8 million metric tons too high.
“What we’re seeing out of South America is a good crop for sure. We would call it an above-average crop. We just aren’t getting the feedback from the canopy that it’s as good as what the USDA and CONAB is suggesting today.”
He tells Brownfield CONAB, Brazil’s equivalent of the USDA, tacked another one and-a-half million metric tons to its latest corn estimate.
Continue reading Skepticism over South American crop production at Brownfield Ag News.
