Brazilian farmers are leading in selling corn amid a turbulent FX rate ranging from 5.31 to 5.38 per USD, the highest in over a year. Private exporters have sold 3.8 million bushels of soybeans to China. A surprise tax change in Brazil is prompting Chinese buyers to turn to U.S. supplies, impacting the soybean market.
🇧🇷 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 🇺🇸
Emerging Market currencies continue to struggle. Here's the Brazilian Real hitting new 52-week lows. https://t.co/f9h2PLEVuG
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
🇧🇷 CFR China 3 lower at 172N, offers heard +178-185 to N, offers heard at 175-178, trades heard at 172N. 🇺🇸 CFR China 2 higher at +222 over Jul CME. Offers at +229-230N. #soybeans 🌱 #Brazil 🇧🇷 #USA 🇺🇸
⚠️ Private exporters announced the sale of 3.8 million bushels of #soybeans to #China during the 2023/24 marketing year. More on USDA #export announcements: https://t.co/RERhCRELDu https://t.co/eazIORgGXu
Corn is leading the farmer selling in Brz. The FX rate in Brazil remains turbulent, ranging from 5.31 to 5.38 per USD – the highest in over a year. In addition to international market volatility, the market is factoring in the deterioration of the domestic fiscal scenario and… https://t.co/RmvOEzwbgO