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Tidbits, Put Options, Broilers & Ethanol, Markets & Rain Days Update 04/21/2022

Highlights


Because feed wheat is so expensive, the US Ag Attaché in Vietnam expects corn imports to increase 600,000 mt this year.

ABIOVE left their Brazil soybean estimate unchanged at 125.3 million mt (USDA at 125 million). They did lower their export estimate 500,000 mt to 77.2 million (USDA at 82.75million mt).

BAGE estimated Argentina’s wheat planted area would be about 6.5 million hectares, down 200,000 from last year.

Turkey is expected to increase wheat production by 1 million mts to 17 million this year despite high input costs according to Foreign Agricultural Service of the USDA. Turkey is the world’s largest flour exporter.

Nine tankers carrying Russian crude and fuel oil have unloaded in the United States this month and are likely the last ones to deliver due to sanctions. April 22 is when the ban on imports of Russian crude and refined products takes effect.

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