Chicago corn futures plunged to a three-year low on Friday after the U.S. Department of Agriculture reported that U.S. corn stocks swelled to their highest levels since 2018
Tag Archives Brazil
U.S. grains: Corn plunges on robust supplies, sluggish US demand
Soybeans fell to lowest price in 26 months on larger Brazilian crops, U.S. yield
USDA Brazil attaché cuts soybean projections for 2023/24
Several firms have dropped Brazil soybean projections on seeding delays, weather
With Brazil having faced opposing weather extremes, there’s little surprise the United States Department of Agriculture attaché cut their soybean production estimate for 2023/24. The Brasilia desk reduced its call from a record 162 million tonnes to 158.5 million in its latest report.
Brazil’s soybean harvest kicks off with low yields in Mato Grosso
Crops suffered from lack of humidity; now rains are hampering harvest in some areas
Brazilian soybean farmers have begun to reap their 2023/24 soybean crop, covering some 0.6 per cent of the national planted area as of last Thursday, agribusiness consultancy AgRural said on Monday.
ICE weekly outlook: No reason for strong rally in canola
Canola likely to pull back once trading gets back into full swing in New Year
There were strong gains for canola on the Intercontinental Exchange on Dec. 27, as trading resumed after being closed for Christmas and Boxing Day. However, the gain will likely not be the prelude to a major upswing in the oilseed’s prices. Rather, canola is likely to pull back once trading gets back into full swing after the New Year, according to analyst Bruce Burnett of MarketsFarm.
China approves seed firms for GMO corn and soybeans
The world's biggest buyer of soybeans and corn wants to reduce its reliance on imports
China has approved a first batch of seed companies to breed and sell genetically modified corn and soybean seeds, paving the way for commercial planting of GMO grains in a move that could cut its reliance on imports from the U.S. and Brazil.
Brazilian farmers slow fertilizer buys as drought dampens corn-planting plans
Fertilizer companies are already dealing with lower profits as prices sag
Brazil's drought is causing farmers there to delay fertilizer purchases for their upcoming corn-planting season, denting sales for global fertilizer suppliers in the world's top corn-exporting country, executives told Reuters.
Brazil feedlot cattle steady
Reuters – An estimated 7.03 million head of cattle will have been processed in 2023 after spending 90 days in Brazil’s feedlots, a survey of that nation’s cattle market by Dutch nutrition company DSM Firmenich showed Nov. 27. The projection was largely steady from 2022’s 7.048 million. Cattle finished after passing through feedlots represents around
Brazil muscles into wheat market
The agricultural superpower will be a fierce competitor, but is mainly striving for self-sufficiency
Glacier FarmMedia – Canadian wheat exporters are facing a new competitor in their second biggest market. “The rapid emergence of Brazil as an exporter in Indonesia and other foreign markets has been remarkable,” the U.S. Department of Agriculture said in its recent Grain: World Markets and Trade report. Indonesia bought 2.14 million tonnes of bulk
Brazilian state launches mandatory tracking of cattle to stop deforestation
The state government plans to track all 24 million cattle in the Para region by the end of 2026
Sao Paulo | Reuters — Brazil’s Para state, which leads the country for the highest levels of Amazon rainforest destruction, will launch a mandatory program to track cattle in a bid to crack down on related deforestation, a partner in the project said on Friday. Cattle pasture is the most common initial use for deforested
CBOT weekly: Mostly bullish influences on soy, corn, wheat
China increasing imports, Brazil in weather bind
MarketsFarm — While extreme weather differences in Brazil remained the main focus of the Chicago Board of Trade’s attention, increased imports by China were becoming another major factor, according to Terry Reilly, senior agricultural specialist for Marex in Chicago. “People are watching China’s increased demand for soybeans, wheat and potentially corn,” Reilly said, noting the
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