Grain Opportunity In Brazil; Lindsay Corporation 3Q Down
Lower yields in South America bring the opportunity for expanded U.S. grain exports. The lower forecast for Argentina and Brazil leaves to door open to buyers who traditionally purchase grain from South America. Alvaro Cordero U.S. Grains Council manager says the crop forecast for Argentina and Brazil dropped six to seven million metric tons because of El Nino. Brazil’s exports will be lowered, which can bring the opportunity of more market share for U.S. grains.
Lindsay Corporation a provider of irrigation systems today announced results for its third quarter showing sales were down S DOWN 12%, EARNINGS DOWN 58% Rick Parod, president and CEO said the "Irrigation results reflect continued headwinds from low commodity prices and farm income. And that they were managing through the challenge of recent increases in raw material costs by passing along the cost of those increases in the market.
Finally in 2015 4.6 million short tons of hay was exported from California and NW ports valued at 1.24 billion dollars making makes the average price of the hay exported at $285.00 a ton