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Tidbits, Markets & Rain Days Update 11/6/23

Highlights


Allen Motew is the director of QT Weather located in the CBOT building Sunday afternoon forecast:

"Northern Brazil goes dry to drier week 2! Wet and wild returns to Parana and Santa Catarina (in the south). Brazil troubles to continue as many have been saying/watching."

247AG Sunday 7:25 PM: Brazil mostly warm to hot, with some locations in the 10-day, very dry.

The U.S. Department of Commerce announced Friday it would lower the tariff on imported fertilizer from Morocco from 19.97% down to 2.12%. The market expected a cut to 15%.

StoneX’s fertilizer guy, Josh Linville, said, “I do not believe we can expect we’re going to see DAP and MAP fall by two or three hundred dollars a ton. I do not expect that price relief right away because even if Morocco sent a ship today, it would not arrive to the U.S. shores until early December, and to local dealers long after that.”

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