Brazilian trade data for the month of November, released this morning, confirmed that the seasonally weaker soybean export trend continues. Despite rumors of large and unexpected late-year sales, November exports amounted to just 2.6 MMTs, 1.2 MMTs above last year, and a little more than the 5-year average. The ship lineup for Brazil does not…
The EIA discontinued the Monthly Biodiesel Production report following the February release. The report has been replaced with the Monthly Biofuels Capacity and Feedstocks Update. The new report lacks detailed statistics for biodiesel production, stocks, and sales of B100. However, the new report does provide feedstock consumption data that includes renewable fuel plants. The data…
ABARES pegged 2021 Australian wheat production at a record 34.4 MMTs, barley production at a record 13.2 MMTs and canola production at 15.7 MMTs, the second largest on record. Combined major crop production in Australia in 2021 is forecast at a record 53.3 MMTs, vs. USDA’s projected 48.3 and vs. 50 MMTs a year ago.…
Brazilian interior corn prices continue to erode, with Brazil’s daily cash corn index today quoted at $246 per ton ($6.26 per bushel). Brazilian corn’s run to $7.50-8.00 per bushel in August and September adequately rationed consumption, and exporters are now beginning to add to existing export commitments at bit more aggressively. Brazilian corn exports in…
Crop conditions across key soybean production regions in Brazil continue to trend far better than a year ago. Temperatures across the Central and Southern growing regions have averaged slightly warmer than last year through the growing season, but rainfall totals have also been far better. This allowed for a more typical start to the planting…
