Trade Keeps Close Eye On South America Drought

Feb 11, 2022

With the release of the USDA WASDE report this week, there was plenty of talk surrounding the weather in South America.

Dan Basse is President of AgResource Company in Chicago.

"It's one of the worst droughts we can find looking backwards in four decades. Southern Brazil, Argentina have been enduring drought going all the way back now to the middle of November. That drought looks to persist. The forecasts are dry for at least another couple of weeks," he said. "Crop numbers are declining and we would expect USDA and future reports to make those adjustments also. Ultimately, we think there may be another nine million metric tons fall in the Brazilian crop, maybe another three or four in Argentina and two in Paraguay."

Basse says that will add up to about another fourteen million metric tons and that will probably get us close to where we need to be with soybeans trading just below $16 a bushel in Chicago.

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Video: Genomic Technologies and Public Trust - Dr. Ellen Goddard

In this episode of The Swine it Podcast Show Canada, Dr. Ellen Goddard, Professor Emerita at the University of Alberta, discusses public acceptance of genomic technologies in pork production. She explains why disease resistance is viewed positively, how labeling affects trust, why farmers remain highly credible messengers, and how communication can shape consumer confidence around gene editing. Listen now on all major platforms!

"Not providing information is a choice that can affect long-term public trust."

Meet the guest: Dr. Ellen Goddard / ellen-goddard-11541138 is Professor Emerita at the University of Alberta and an agricultural economist. Her work focuses on consumer behavior, trust, livestock sectors, and public attitudes toward food technologies. She also specializes in economic modeling for pork, beef, and dairy systems. Learn more from Dr. Ellen Goddard on the Swine in Canada Podcast Show, available on all major platforms.