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Tidbits, Brazil, China, Crude Oil & Fuel, Markets & Rain Days Update 12/6/23

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Highlights


Corn in Brazil is worth more to feeders and ethanol plants than it is worth at the ports. That should mean the end of Brazil’s corn exports for this marketing year.

Brazil's southern state of Parana had the wettest Oct-Nov in a quarter century, almost 21 inches of rain (534 mm, ~70% above avg). Yesterday 86% of soybeans and 80% of first crop corn were in good condition.

Reuters reported Mato Grosso’s Oct and Nov rainfall total was ~6.4 inches (163 mm), 47% below average.

247AG 10 AM Tuesday:

"Just cannot seem to get those December Monsoonal rains to take off in full force for Brazil, with the GFS (American weather model) much drier."

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