Brazil
Fields in central Brazil are baking in high temperatures and low levels of moisture. One meterologist says farmers there are now questioning whether they will plant their second corn crop, the so-called safrinha crop.
The focus of the soybean market continues to be South American weather and crop expectations. Jerry Gulke says whether or not forecasted rains occur will set the direction for the market into next week and beyond.
Recent WASDE reports had assumed another record Brazilian soybean crop and Argentina returning to normal, but the El Niño weather pattern might have something to say about that.
Let this sink in: One state in Brazil — Mato Grosso — produces the equivalent of Illinois and Iowa’s soybean production combined. Here’s a look at South America’s growing regions, crop calendar and production capacity.
Weather in Brazil is as big of a market mover as forecasts in the U.S. Why has Brazil grown so aggressively? One economist recently spent six months in Brazil and says a combination of factors is aiding their growth.
We have gradually resigned ourselves to Brazil being the leader, but last year they also took the top spot for corn exports, a tougher fact to swallow. There is more going on for the 2023-2024 growing season in Brazil.
Brazil briefly wore the global corn export crown in 2012 because of the U.S. drought. With the ability to churn out three corn crops per year and a supply deal with China, Brazil might be set to maintain that title.
The 2022/23 crop season could post two records in Brazil: a record 313 million tons of soybeans, corn, cotton, rice and wheat and a record storage deficit of more than 100 million tons.
It didn’t start with the swing of an ax in the Amazon or by an explosion in Kiev. Both contributed, but the shifts in global grain flows is a multifaceted prism through which the future is continuing to evolve.
Grain farmers might have started their Cinco de Mayo celebration early on Friday, with grain prices seeing some big gains.