Despite the U.S. dollar’s antics, there has been little change in sources of the cheapest grains.
According to Ben Buckner at AgResource, Russia is still the cheapest wheat exporter, despite tariffs designed to dampen sales. Ukraine is still the cheapest corn exporter at $4.50/bu. and is still very aggressive in sales. Argentine soybeans are the cheapest, at $10.15.
South American analyst Pedro Dejnka is speaking Thursday at the Cereals Europe conference in Geneva and says the dollar’s strength is providing nice incentive (by pricing U.S. products out of global markets) for South American seedings of corn and soybeans.
Thursday, March 26 is when the Brazilian government and truckers meet to try to finalize an agreement that will keep trucks moving.
“It will be all about Northern Hemisphere weather for about the next six months,” Buckner says.
