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Tidbits, China Imports, Tariffs, Brazil Soy Crush, Russian Wheat, Consensus 1/23/25

Writer's picture: Wright teamWright team

Tidbits


Yesterday morning, the USDA announced the sale of 136,000 mts of old crop corn to unknown.


Rumors are floating that China needs to buy corn. The U.S. is the only place to buy shiploads of corn until June. Three months ago, China said it harvested its biggest crop of corn last summer despite three typhoons moving across much of their corn growing area in July and August.

 

Early yesterday China halted soybean imports from five Brazilian companies because cargoes did not meet phytosanitary requirements as rumored on Tuesday. The beans were old crop beans that had been in storage in Brazil that didn't meet China’s quality standards. Storage capacity and quality of storage has been a problem for Brazilian farmers/commercial elevators for decades and it is getting to be a bigger problem every year as production increases faster than infrastructure. However, Brazil's agriculture ministry said only a small volume of soybeans were affected and the impact on the country's exports was minimal.

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