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USDA leaves South American corn, soybean crop unchanged

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The USDA has left its South American corn and soybean production estimates unchanged for now. That was in question because of excessively dry conditions in parts of Argentina that have significantly delayed planting, which could cause some change to farmers’ acreage mix, while conditions for Brazil are comparatively good, but planting isn’t over quite yet. Argentina’s soybean export guess was higher, likely due to Buenos Aires’ soy dollar program, which is designed to boost soybean sales with a more favorable exchange rate with Brazil unchanged from November.

USDA leaves South American corn, soybean crop unchanged