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Tidbits, Brazil, Markets & Rain Days Update 11/29/23

Your merchandiser and your futures broker want you to be out of all December futures positions by the close of business today to avoid any chance of being assigned delivery tomorrow.

 

Highlights


Rondonópolis received 2 mm of rain on Monday and 0.7 mm yesterday. Day time high temperature both days was 100°F (38°C).

 

Douglas Marangon of Mato Grosso, reported yesterday:

"Replanting in Água Boa MT (Mato Grosso) in the Araguaia Valley. Region in which many areas of soybeans still to be planted, those that have germinated are very bad and being replanted in addition to others that are being grided for sesame planting. Safrinha corn with drastic area reduction."

 

Oil World predicted the Brazilian beans crop will be 152 mil mts (USDA at 163).

 

Brazil's MB Agro consultancy lowered its soybean production estimate by 10 mil mt to 155 mil  and expects Brazil to export 4 million tons of beans less. MB Agro puts Brazil's new crop corn exports at 40 mil mts, down 10 million tons from last year, that is 393.7 mil bushels, almost 20% of the currently projected USA corn exports this marketing year.  

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