A grain market consultant who monitors the South American market says Brazil is seeing record high prices for soybeans, rice and corn.

Dr. Michael Cordonnier with Illinois-based Soybean & Corn Advisor tells Brownfield Brazil over exported these commodities.

“They front loaded their exports, now the supply situation is very tight is brazil for soybeans, corn and rice,” he said. “In fact, they’re already importing rice and soybeans.”

He said Brazil has had to import 600,000 tons of soybeans so far and will likely import another 300,000 before the end of the year.

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