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Tidbits, Brazil, Inflation & Market, Rain Days Update 11/12/23

Highlights


On Friday, Iraq said it wants OPEC+ to cut oil production at OPEC’s November 26th meeting. Some speculators covered their massive short positions Friday ahead of a weekend uncertainty, but crude was down 4% last week, the third consecutive weekly decline.

Confresha is a municipality in northeast Mato Grosso. From October first through the 10th of November in 2022, Confresha received 16.8 inches (427.8 mm) of rain. During the same calendar days in 2023, the Confresha received 3.83 inches of rain (97.2 mm).

Hugo de Almeida Dan is an agronomist and researcher in the municipality of Cerejeiras in the Brazilian state of Rondônia, west of central Mato Grosso and near the border of Bolivia. He reported yesterday:

"The window of second season Safrinha is closed for South of Rondonia and western Mato Grosso, Brazil. Everything is normal according to Conab."

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