Highlight: Southeast Brazil is the dry zone while the remainder of Brazil is likely to stay wet. Charts of the day: The 7-day rainfall observations/7-day rainfall forecast. Discussion: The past 7 days has featured mainly dry anomalies across Argentina Crop Areas and less wet (vs. the 30-day pattern) across much of Brazil. Far Southeast Brazil…
AgResource Pre Opening Sunday CBOT Calls Are; Soybeans 1-3 cents lower, corn steady to 1 cent lower with wheat called steady to 2 cents lower. Sunday Weather & CBOT Market Discussion: Happy Halloween! Opening week CBT calls are steady to lower. China’s PMI manufacturing activity fell to 49.2 in October showing a further contraction as…
Chart of the day: Wet 7-day outlook for Europe. Discussion: The 7-day outlook across Europe is much wetter than normal. Several areas of up to 3-4 in. of rain is indicated. The culprit is a robust upper trough over Western Europe forecast to “dig” southeastward this week and possibly entrain moisture from Tropical Storm ‘Wanda”…
Summary: Brazil shipped 908,000 MT of soybeans this past week. There were 97,000 MT shipped from Argentina. US soybean exports are estimated at 2,300,000 MT. Brazil’s October exports could be 3.17 MMT. Exports are slightly ahead of the pace need to meet the USDA’s projection for a record 86.5 MMT. ++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++ Last week Brazil exported 908,000…
Summary: Brazil exported 425,000 MT of corn. Argentine exports were 470,000 MT. Ukraine shipments are estimated to have been 310,000 MT. US corn exports are estimated to be about 585,000 MT. Brazil’s total corn export “commitments” are 14.25 MMT vs 27.04 MMT last year and have accounted for 71.3% of projected total annual exports. 1.97…
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