Tidbits, South America Crops & Ports, IGC Estimates, Livestock Outlook, ENSO, Export Inspections 2/24/26
- Wright team
- 9 hours ago
- 5 min read
Tidbits
Four years ago today the war between Russia and Ukraine began. After being invaded by Hitler’s Germany in June 1941, the Soviet Union defeated Germany in 3 years and 11 months. After Japan destroyed most of the U.S. Pacific Fleet at Pearl Harbor, the U.S. defeated Imperial Japan in 3 years and 8 months. Wars just are not fought to win any more. That is why the Vietnam War lasted 13 years and Afghanistan was a 20 year war.
Flash sale: Yesterday morning, the USDA announced the sale of 125,000 mts of old crop corn to Colombia.
Corn and soybean futures had a mid-day rally yesterday possibly because a Cargill export terminal in Brazil was knocked off-line. The Port of Santarém is a river port in Brazil located on the Tapajós River, about 3 km from the confluence with the Amazon River, about 620 miles from the leading corn and bean producing state of Mato Grosso. When the highway known as BR63 was completely paved in 2019, this port became a valuable loading terminal for ocean freighters.
Indigenous protesters initially blocked truck access to the terminal on or about 22 January with limited initial impact since most grain now arrives by barge. The protest escalated significantly last Friday evening when protesters stormed and occupied the facility, forced employees out, and completely halted operations. Cargill stated they are coordinating with local authorities for an orderly and safe eviction process according to the Folha de S. Paulo newspaper.
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