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Tidbits, Brazilian Crops, Pesticides, Container Ships 2/12/24

Highlights


247AG reported Sunday afternoon:

"Brazilian grain exporters lobby Anec warned it was concerned about a rise in farmer bankruptcy filings in the country, which may affect delivery of committed grains throughout the season and may also hamper traders' ability to complete their export programs."

 

Market Adviser, Kevin Duling pointed out in his weekly letter that old and new Soft Red Winter wheat has not made a new low since November 27th and hard red winter and spring wheat are actually inverted markets (nearby months are a higher price than deferred), which is bullish! 

 

Tidbits


Eduard Vanin, cash export grain trader in Brazil said yesterday corn demand in Brazil will grow by 5 mil mt (~200 mil bu) this marketing year and 75% of that will come from the ethanol industry. Ethanol plants are bidding +120U (120¢ over September futures) equivalent FOB Santos in Mato Grosso and Goiás to keep the corn from the export market. 

 

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