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South American Grain, Shanghai, Markets & Rain Days Update 04/16/2022

Highlights


We cannot find any numbers for the March NOPA Soybean crush numbers. They are scheduled to be released on the 15th of every month exclusively to Reuters News Service. Reuters has nothing about yesterday’s crush report. USDA announced yesterday morning the sales of: 121,000 mts of old crop soybeans to China 268,000 mts of new crop soybeans to China 272,000 mts of new crop soybeans to Chinese company 177,000 mts of old crop soybeans to unknown destinations

 

Argentine grain trucks are rolling again. The government has guaranteed the truckers a freight rate hike of 20% and a “normal” supply of diesel fuel. Dr. Michael Cordonnier is the agronomic guru for South American crop production. He has studied SA crop production for more than four decades. No one has more credibility about SA crops than Michigan State’s Dr. Cordonnier. He reported yesterday:

It appears that the annual dry season in Central Brazil may be starting earlier than normal this year. Usually, the last significant summer rains occur in early May, but many areas of Central Brazil received their last significant rainfall 15-25 days ago with some areas on northern Minas Gerais already being dry for 50 days. The crop most impacted by an early start to the dry season is the safrinha corn.

Safrinha is the second crop corn planted after soybeans and cotton. Brazil’s farmers used to grow two crops of soybeans and very little corn until the Asian Leaf Rust hit 20 or so years ago. The first year of Asian Leaf Rust was the only year of the past 50+ years that a soybean crop was smaller than the previous year… until this year.

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