Weather is not the only threat to profitability. Economists are keeping a close eye on competition, saying Brazil should also be closely watched.
Over the last two decades, the South American country has nearly tripled corn and soybean production. That has resulted in a large increase of exports, with corn growing by more than 1,000 percent. Brazil has created strong competition, and economists warn it is not going away anytime soon, and commodity traders say the U.S. faces some large hurdles including the buyer power of China.
Transportation issues have also hurt the United States, with consistently lower water levels along key transportation corridors. It is a problem Brazil has yet to face.
