Struggling South American production could impact U.S. crops
Researchers warn a lack of South American corn and soybean production could spell trouble for U.S. crops.
Analysts at the University of Illinois say it is especially concerning when U.S. domestic use and exports are struggling. They say use of 2022 U.S. field crops are hurting largely because of a strong U.S. dollar and trade issues.
South American soybean production is below trend, even though Brazil is expecting bumper crops, because Argentina is having its worst harvest in more than two decades thanks to La Niña. Researchers, however, note the situation could change depending on the weather. In the meantime, they suggest having a contingency plan sooner rather than later.