Tidbits, Brazilian Crops, Turkey Count, Rigs, Flash & Export Sales 11/14/26
Tidbits
Brazil's national crop agency Conab cut its estimate for the 2026 wheat crop to 5.26 million mts on Friday, down from 5.73 million mts in October (USDA 5.8 million), as rains linked to the El Niño weather pattern hurt quality and lowered yields. Output would fall 33.2% from the previous season; harvest is underway. Planted wheat area is seen at 1.91 million hectares (4.7 million acres), down 21.7% from the previous season, with average yields down 14.6% to 2,748 kilograms per hectare. The agency also raised its wheat import forecast to 8.94 million mts, from 7.06 million previously.
2026/27 soybean output forecast unchanged from October at a record 181.6 million mts (USDA 186 million), up 0.7% from the previous season.
Total 2026/27 corn production forecast unchanged from October at 148 million mts, though corn exports were cut to 43 million mts from 46 million. The USDA raised their forecast this week by 2 million to 141 million mts. The gap between the USDA and Conab production forecasts narrowed this week, however, remain significant.
Want to read more?
Subscribe to wrightonthemarket.com to keep reading this exclusive post.
