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Highlights, Brazil, Rain Days Update 9/11/22

Highlights


Earlier this week, the EU said it would put a price cap on Russian crude oil to take effect in December and a cap on Russian natural gas as soon as possible to save the European industry and electricity markets and consumers.

At least 10 EU member states are opposed to the EU slapping a price cap on Russian natural gas. They fear Putin would retaliate with a complete halt of gas supply to all of Europe. Seventy-four percent of all Russian natural gas goes to Europe.

The price cap on Russian crude oil would be enforced by refusing insurance, funding, brokering, and other services for vessels carrying Russian crude unless its price is set at or below the cap that has yet to be finalized.

The cornerstone of Brazil’s Asian Leaf Rust control program is that no soybeans can be planted in Central Brazil between January first and September 15th. Farmers want the rainy season to start before they plant the first crop of beans, corn, rice, etc. That means they want to see 3 to 4 rains within a seven-day period.

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