AgResource LATAM, Oct 6
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An extremely strong La Nina is forming across the Equitorial Pacific while the Atlantic holds in a warm profile. This pattern is not unusual in the 2nd consecutive year of La Nina, but it does argue that any summer weather drought would be focused on Argentina/Southern Brazil, and not Northern and Central Brazil as was…
AgResource Farm Marketing Advice for Thursday: 1/ No new advice. Chinese thermal coal futures pushed to record high prices throughout the summer. Ahead of the Chinese holiday last week, the market again reached a new record high of 1,437 CNY/MT ($223/MT). The market has been driven by two underlying fundamentals: first, rising demand for power…
World feed grain fob prices have been rising since mid-August. The US corn rally was delayed by the damage produced by Hurricane Ida during the opening days of September. However, as Gulf export capacity comes back online and elevation premiums retreat, an enlarged US corn export opportunity is starting to emerge. The recent rally in…
US pork exports in August recovered from a light July pace and were barely below last year at 526 Mil Lbs. China’s absence from the weekly and monthly figures is becoming more important each month. August exports were just 51% of last year, and the Jan-Aug figure is 64% of a year ago. But with…
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