Some U.S. farmers are still trying to plant a cover crop on prevent plant acres this year.
Meanwhile, our competition in South America is already at harvest. Some analysts are already looking at 2020 because of it.
Brian Basting, with Advance Trading, says there are two reasons to watch South America next year. “They just finished harvesting the largest corn harvest ever in both countries in Brazil and Argentina,” says Basting. “That competition is going to be keen in the export market with the U.S. origin over the next six months, all the way into early 2020.”
He’s especially watching Argentina.
“It looks like producers there are going to be switching acres from soybeans in to corn,” says Basting. “We are looking at tremendous potential, again, potential for competition to not only remain over the next six months but extend into 2020.”
Basting believes U.S. farmers are more geared to plant more corn next year, especially if the weather cooperates.