AgResource LATAM, Feb 3
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Thank you for subscribing to AgResource LATAM! Click here to view this week’s report What would you like to see on Latam? Please send suggestions of data sets we could add: tarso@agresource.com
AgResource Farm Marketing Advice for Thursday: 1/ No new advice. The Index Fund data on soybeans is surprising with sizeable liquidation occurring over the past 3 weeks. The liquidation is surprising since no other grain or livestock contract has witnessed such selling. The selling in soybeans produced a 50% correction of the December rally and…
South American Forecast Offers Wet Pattern in Northern Brazil, Lengthy Dry Period for Argentina/S Brazil: The EU & GFS models agree and consistent with prior output. The exiting of high pressure Ridging aloft E Brazil will trigger a rather wet pattern across the northern half of Brazil’s crop belt into late month. Cumulative totals across…
Russian Farmers Begin Selling Inventory; Sales Percentage Uncertain: EU wheat markets ended weaker on Wednesday amid strong talk that Russian farmers have begun to part with a portion of their stored supply. Quantities are unknown and whether sales have been made to exporters or domestic millers is uncertain. However, the rally in world cash wheat…
January Brazilian corn exports totaled 2.55 MMTs, down seasonally from recent months, but up 442,000 MTs (21%) from January 2019. Based on ship lineup data, ARC expects Brazilian exporters to ship 500,000 MTs of corn in February, up 160,000 MTs on the prior year and which suggests the USDA’s old crop Brazilian corn export forecast…
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