What is in this article?: - South American Weather, USDA Reports
Affecting Corn, Soybean Prices Corn and soybean prices declined
sharply in mid-November and remained at the lower level through
mid-December. From mid-December through early January, the cash
price of corn in central Illinois increased by 78¢ while the
cash price of soybeans increased by $1.21/bu., says University
of Illinois Agricultural Economist Darrel Good. “One factor that
has contributed to higher prices is adverse weather in parts of
Argentina and southern Brazil during a critical phase of crop
development. Periods of extremely high temperatures and well
below average levels of precipitation in December have
threatened both the corn and soybean crops in those areas,” Good
says. The adverse weather followed very favorable weather
conditions in November. The weather pattern in those areas has
been similar to that of 2008-2009 when corn and soybean
production was substantially reduced in Argentina, he says.
“Some beneficial rainfall in the d