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Tidbits, Export Inspections, Markets & Rain Days Update 1/17/24

Tidbits


Yesterday morning, USDA reported the sale of 126,700 mts of old crop corn to Mexico.

 

NOPA December crush was a record at 193.5 mil bu. Previous record was October and November close to it. Soy oil stocks of 1.36 bil lbs were above expectations.

 

Aprosoja, an association representing thousands of grain farmers in Brazil, projects soybeans production of 135 million metric tons. Aprosoja Brasil's estimate is lower than private forecasters' projections of production that starts at around 143 million tons. It is also well below Brazilian crop agency Conab's expectations of 155 million tons and a USDA projection of 157 million.


Russian President Vladimir Putin said that he expects the grain harvest in Russia in 2024 at the level of 147 million tons, almost the same as previous year. 4 million of those from new territories. Russia holds the first place in the world in terms of wheat sales on global markets. Russian AG exports for 11 months of 2023 were 6.8% higher from the same period previous year. Calendar year exports are expected to be up more than 8%.

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