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Markets, News

Drought hits Brazil corn in key southern state

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Reuters – A drought is compromising corn fields in Brazil’s Rio Grande do Sul state, which is now expected to produce 4.51 million tonnes of the cereal, according to a forecast by StoneX on Dec. 15. The revised output figure is less than a previously forecast 5.38 million tonnes of corn production for the state
ICE March 2023 canola with 20-, 50- and 100-day moving averages. (Barchart)
Crops, Markets

ICE weekly outlook: Canola trade’s focus on South America

Canola still entrenched in $800-$900 range

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MarketsFarm — ICE Futures canola contracts held relatively rangebound during the week ended Wednesday, looking for some direction to push values one way or the other. “We’re just watching South American weather now,” said Jaimie Wilton, commodities futures specialist with RJ O’Brien in Winnipeg, pointing to the drought in Argentina and the relatively favourable conditions
(Medioimages/Photodisc/Getty Images)
Crops, Markets, Weather

CBOT weekly outlook: South America’s dry weather affecting soy complex

'We’re back to trading weather right now'

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MarketsFarm — The U.S. Department of Agriculture’s world agricultural supply and demand estimates (WASDE) report last week is taking a back seat to drought concerns in South America, according to a Chicago grains analyst. Terry Reilly from Futures International said Friday’s WASDE report had very little effect on the Chicago Board of Trade (CBOT), which
Soybean seed
Markets, News

Brazil farmers plant 87 per cent of soybean area amid dryness

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Brazilian soybean planting reached 87 per cent of the estimated area in the 2022-23 cycle on Nov. 28 amid dryness in some centre-western farms that has growers concerned, according to agribusiness consultancy AgRural. Although sowing is slightly behind last season’s pace, Brazil is poised to harvest a bumper crop based on historical yield trends and
Brazil corn freight prices jump in wake of road blockades
Grain Markets, Markets, News

Brazil corn freight prices jump in wake of road blockades

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Reuters – Protests over Brazil’s election result that blocked roads in Mato Grosso state earlier this month lifted truck freight prices, affecting the operations and margins of global grain traders at a time when farmers are selling their abundant second corn crop. Truck freight rose 20 per cent (US$9.40) per tonne in Mato Grosso, said
A Panama-flagged bulk carrier, Ikaria Angel, leaves Ukraine’s port of Chornomorsk with wheat for Ethiopia on Sept. 17, 2022. (File photo: Reuters/Serhii Smolientsev)
Crops, Markets

CBOT weekly outlook: Renewed agreement puts pressure on corn, wheat

Soy trade focused on Brazil's crop potential

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MarketsFarm — A renewed agreement between Russia and Ukraine to allow the latter’s grain to be shipped out of the Black Sea has recently been putting pressure on corn and wheat prices at the Chicago Board of Trade (CBOT). Russia and Ukraine, with mediation from the United Nations and Turkey, agreed Nov. 17 to an
File photo of a soybean plantation in Brazil. (Mailson Pignata/iStock/Getty Images)
Crops, Markets

Cordonnier stands pat on South American crop projections

La Nina 'is still out there,' analyst says

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MarketsFarm — At this point in the South American planting season it’s too early to get an accurate bead as to how much corn and soybeans will be grown in Brazil and Argentina, according to Dr. Michael Cordonnier of Soybean and Corn Advisor Inc. at Hinsdale, Ill. Cordonnier recently issued his latest estimates, keeping his
Photo: Thinkstock
Markets

Brazil moves closer to China corn exports as Beijing approves traders

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Beijing/Sao Paulo | Reuters – Chinese customs updated its list of approved Brazilian corn exporters on Wednesday, a move a Brazilian agriculture official said could jumpstart sales of corn to the world’s second-largest economy. The approvals could reshape global trade flows and result in fewer sales for farmers in the United States, the world’s top corn supplier.

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