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Tidbits, PPI, Paraguay, Port of Baltimore, Peace Summit, Export Sales 6/14/24

Highlights


Yesterday morning, CONAB reduced their Brazilian soybean crop estimate 330,000 mts to 147.35 mil. (USDA at 153, down 1 mil.), but increased Brazil’s corn production by 2.5 mil. mts to 114.14 mil. mts (USDA at 122, unchanged).

 

Cash grain export trader for Agrinvest, Eduardo Vanin, said Thursday:

The Brazil corn program is significantly smaller than last year. The corn program last year experienced a significant (export) surge during JAS (July, August, September), a jump that is very unlikely to happen this year. Some headwinds:

  • Negative origination margin

  • Fierce competition

  • The waterways in the Amazon Basin are losing water levels

  • China is absent

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