Brazil
Brazil imported a record 44.3 MMT of fertilizers during 2024.
This incident comes as China stopped receiving Brazilian soybean shipments amid phytosanitary issues.
Russia and China are simply not our friends.
Brazil’s central bank made another intervention on the final trading day of the year to stabilize the real.
Brazil’s soybean and corn exports revealed contrasting performances in November, according to the latest Logistics Bulletin from the National Supply Company (Conab).
Brazil’s soybean crushing capacity over the next three years is expected to increase at nearly twice the rate of the last three years, according to Itau BBA’s Agro Consulting.
International grain trading firms operating in Brazil will vote next week on changes that could weaken an agreement to not buy soybeans from deforested areas of the Amazon rainforest.
Brazil’s amendments to its domestic policies and increasing biodiesel mandates are likely to reduce the availability of used cooking oil for export, potentially reshaping its role in the global biofuel market.
Tomm Pfitzenmaier with Summit Commodity Brokerage says grains are facing the headwind of returning strength in the U.S. dollar index and the lack of weather threats. Soybean oil losses are additionally pulling down soybeans.
Matt Bennett, AgMarket.Net, says wheat was up for a third day continuing to see short covering by managed money traders and adding war premium. However, corn could not follow with soybeans as an anchor.