Brazil, the world's largest soybean exporter, has seen a surprise tax change prompting Chinese buyers to turn to U.S. supplies. USDA reports show unchanged South America numbers except for Brazil, with Brazil's bean estimates surpassing expectations. Despite the anticipation for lower crops, the numbers remain steady. The U.S. corn FOB is competitive in forward curves, awaiting potential business. Brazilian producers have sold a significant portion of their soybeans for the 23/24 and 24/25 seasons, with sales increasing compared to the previous month. Buenos Aires reports progress in corn and soybean harvests, with production figures remaining stable. China has purchased July cargos from Brazil and is exploring August options from the U.S.
China was said to have bought Jul cargos out of Brazil for 167-169 over N CME. China was inquiring about Aug USG. #China 🇨🇳 #Brazil 🇧🇷 #USA 🇺🇸 #soybeans 🌱
Buenos Aires Crop Progress: #Corn 🌽 Harvest 40.3% complete, up 5.2% v last wk 🌽 Production unch at 46.5MMT #Soybeans 🌱 Harvest 96% complete, up 3.8% v last wk 🌱 Production unch at 50.5MMT #Argentina 🇦🇷 https://t.co/iMMiSFfunE
As mentioned, don't ignore the $USDBRL, now testing May 2020 trendline & the highest level since Jan 2023. Brazilian producers are roughly 32% forward sold on their Safrinha crop which is 17% below their 5yr avg for this time of yr. 1st crop they are 23% below their 5yr avg. US… https://t.co/bMut22RWWn
Brazilian producers have sold an estimated 66% of their 23/24 #soybeans an increase of 13.7% v last month. Sales for 24/25 advanced 3.4% of the expected 160.5MMT crop to 8.6%. 🌱 #Brazil 🇧🇷
Here's the deal, the USG #corn FOB is competitive when looking at forward curves. Just need that business. Throw a little weather scare headline at it, pop this summer vol to 35-37%. What a trade. Sounds easy, I know... https://t.co/6qo7zLaApm
Here's the deal, the USG #corn FOB is competitive when look at forward curves. Just need that business. Throw a little weather scare headline at it, pop this summer vol to 35-37%. What a trade. Sounds easy, I know... https://t.co/b5ZaIbUaGJ
🇧🇷 CFR China unch lower at 172N, offers heard +178-185 to N, offers heard at 175-185. 🇺🇸 CFR China 1 lower at +221 over Jul CME. Offers at +225N. #soybeans 🌱 #Brazil 🇧🇷 #USA 🇺🇸
June WASDE serves the markets a reality check. USDA is not worried about global weather issues - yet. Get the full report recap from the Farm Futures team! ⤵ https://t.co/wyhixIx1Id
USDA Recap: 😴 On to end of month acreage report and growing season weather. Everyone knew end of month report was the big one anyways. Huge range for acres.. For the actual report, South America numbers disappoint. Leaving nearly all the numbers unchanged from last month.… https://t.co/S6N4Ymll4b
USDA Recap: Nothing.. On to end of month acreage report and growing season weather. Everyone knew end of month report was the big one anyways. Huge range for acres.. For the actual report, South America numbers disappoint. Leaving nearly all the numbers unchanged from last… https://t.co/V3G3h4GEdj
USDA REPORT 🚨 All South America numbers unchanged from last month aside from Brazil beans. Despite estimates calling for lower crops.. 🌽 Brazil: 122 vs 120.95 est 🌽 Argy: 53 vs 50.87 est 🌱 Brazil: 153 vs 151.8 est (154 last month) 🌱 Argy: 50 vs 49.83 est Get our full…
A surprise tax change in Brazil, the world’s largest soybean exporter, is prompting Chinese buyers to snatch up U.S. supplies. https://t.co/nN82bSxi9s