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Tidbits, Brazilian Soybeans, Iran’s President 5/20/24

Highlights


Eduardo Vanin is a cash grain trader of Agrinvest Commodities. He reports the Brazilian soybean market is tightening. The soybean basis for June and July export shipments traded substantially higher on Friday.

 

Mississippi River Gulf Ports basis bids for soybeans shipped by barge for export were steady to 2¢ firmer for May and 3¢ firmer for June for a second consecutive day on Friday on continued concerns about flood-damaged crops in Brazil. Corn basis bids were steady.

 

Global buyers have been favoring cheaper Brazilian soybeans where farmers are in the last stages of harvest. But crop losses of up to 3 million mts in flood-ravaged Rio Grande do Sul has the market thinking some near-term soybean export demand could come to the U.S.

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