Weekly Newsletter, Oct 31
In this week’s newsletter, we take a look at the pace of global corn trade, as well as update the 2017/18 global corn balance sheet
In this week’s newsletter, we take a look at the pace of global corn trade, as well as update the 2017/18 global corn balance sheet
** The grain bears have sold heavily to push corn/wheat values lower, which initially dragged soybeans down. However, strong export demand for soybeans and narrowing cash basis bids have pushed beans back higher at midday. The market has a mixed feel going home with fund managers continuing to push the grains lower. Funds are quickly…
Needed wet weather is projected well into November for parched parts of Brazil while Argentina trends drier.
Bottom Line: Brazil exported 981,000 MT of corn last week. That’s down from the previous week but it is ten times what was exported in the same period last year. In comparison, US corn exports last week were 517,679 MT. Brazil’s corn export “commitments” were estimated to be 24.14 MMT as of Oct 27. That’s…
Short-term dryness across Australia with wet opportunities to follow.
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