[Listen] Gordy AG Market Recap Beans Sharply Lower Friday
I was out of the studio Friday helping with the Region 8 Creed Contest in Austin. Late morning checking the markets I was surprised to see beans down pretty hard. Commodity Broker Gordy Kralovetz with Chiodo Commodities said beans were down even though the forecast was for dry areas of Argentina to remain dry and the wet areas of Brazile remain wet.
The market seemed to be focused on the rain that very dry areas of Argentina did receive. That is not unusual. But looking at the rainfall maps from NOOA the rain sure did not look like a "drought buster" in Argentina and they will need a lot more rain. Plus in Northern Brazil continues to struggle with too much wet weather to harvest beans and get the second crop of corn planted. Click on the link and listen to Gordy talk about the markets last week.