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Tidbits, Export Sales, EU Protests, Markets & Rain Days Update 2/2/24

Highlights


Yesterday morning, the USDA reported the sale of 206,834 mts of old crop soybeans to Mexico.


December bean crush was reported at 204 mil bu. vs 206.5 mil expected, up 9.1% from a year ago.

Corn used for ethanol was 481.7 mil bu. vs 474.4 mil expected, up 13.1% from prior year.


Brazil's soybeans estimates were updated lower:

  • Datagro: 148.55 mmt (was 152.88 mmt)

  • Agresource: 145.4 mmt (was 150.7 mmt)

  • StoneX: 150.35 mmt (was 152.8 mmt)

January agency estimates, as a reminder:

  • USDA: 157 mmt

  • CONAB (Brazil’s USDA): 155.3 mmt

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