Summary: Last week Brazil exported 357,000 MT of corn. Argentine exports were 406,000 MT. Ukraine shipped 600,000 MT. US exports were 877,774 MT. As of Jan 15, Brazil’s total corn export “commitments” for the local marketing year were 35.23 MMT vs 38.42 MMT last year. Commitments have accounted for 100.7% of projected total annual exports. Ship lineup data…
AgResource Farm Marketing Advice for Wednesday: 1/ No New Advice. La Nina is forecast to persist well into the middle of 2021 before fading. This cycle of La Nina has reached a mature stage and is now in decline. Normally, La Nina’s translate into dryness across Argentina and S Brazil from mid January through March.…
Dryness Resumes in Argentina; Northern/Eastern Brazil Turns Arid Next 10 Days: South American precip over the long weekend was generally scattered in nature. 3-day totals in excess of 2” were confined to Parana, Sao Paulo and regional pockets of Mato Grosso and Mato Grosso do Sul. South American rainfall through the first half of January…
Global Feed Wheat Market Surges Ahead of Russian Export Tax: US and global corn demand will remain stout in the face of soaring milling/feed wheat prices. US Gulf corn maintains a solid discount to all other corn origins into at least April. The bigger developing story is that the world feed wheat market appears to…
US sorghum basis across the interior US is working to slow domestic use while also maximize 20201 seeding. Spot sorghum basis in Central Kansas is quoted at $1.30-1.35/Bu over March CBOT corn. Basis has strengthened as corn prices surged to multi-year highs. Even new crop sorghum basis is quoted at $.20-.40/Bu over Dec corn. In…
