AgResource Weekly Newsletter, Dec 13
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Recent Argentine Rainfall to Evaporate; Central/Northern Brazil Outlook Still Ideal: The 10-day South American forecast is consistent with prior runs in offering rapid net soil moisture loss to Argentina and far southern Brazil and normal rainfall and mild temps to the heart of Brazil’s soy belt. Argentina’s outlook remains troubling. Heat returns to the country…
AgResource Farm Marketing Advice for Wednesday: 1/ Corn Producers: Sell 20% of the estimated 2022 corn crop at $6.79 basis March corn futures for early 2023 delivery. If filled, 2022 corn sales would be pushed 80%. 2/ Wheat Producers: Sell another 20% of the 2022 wheat crop if March Chi wheat reaches $8.79. If filled,…
European Corn Market Remains Stagnant on Large Imports; Ukrainian Shipments Resume: Spot Paris corn has fallen to a new seasonal low at $7.77/Bu, vs. a post-harvest high of $8.50, as supply urgencies fade. Bird flu has triggered the widespread culling of flocks, while access to Ukraine’s surplus has been relatively smooth since late summer. Total…
The Malaysian Palm Oil Board released its monthly palm oil report on Tuesday, which was viewed as supportive for palm oil futures, which gained just over 2% after the report’s release. However, palm oil futures continue to trade at a historic discount to CBOT soybean oil futures. The MPOB reported that November palm oil production…
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