Brazil
There are 400,000 agricultural drones applying product to 300 crop types in over 100 countries around the globe today, helping farmers save money and steward a brighter future.
Brazil’s Mato Grosso farmers lobby Aprosoja-MT has filed a lawsuit against global grain companies over Brazil’s so-called “soy moratorium.”
The administration created a “top 10 list” that includes the fishing industry, agricultural land deforestation in Brazil that impacts beef and soy production and Mexican avocados produced on illegally deforested lands.
Farmdoc daily reports that Brazil’s rapid expansion of corn-based ethanol production is transforming the country’s domestic corn market, sharply boosting internal consumption and potentially curbing future exports.
The majority of respondents in the March Ag Economists’ Monthly Monitor agree the U.S. is currently in a trade war, but who wins? Ag economists say it’s not the U.S., Canada or Mexico but rather Brazil that could come out on top.
Agroconsult updated its forecast after inspecting about half of the fields in a nationwide crop tour.
Brazil’s BRICS presidency this year will not push for a shared currency.
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.
The Amazon region of northern Brazil continues to suffer under the worst drought in 120 years, resulting in the lowest water level at the Port of Manaus in 122 years.
Randy Martinson, Martinson Ag, says funds continue to cover shorts in the grain markets but there are some fundamentals also helping to support the rally.
Kent Beadle, Paradigm Futures says corn continues to move higher on fund buying and tighter corn stocks from USDA’s Quarterly Stocks Report. He thinks corn could eventually take out resistance on the charts and move higher.
Grains started out mostly lower Wednesday but Darin Newsom with Barchart says they continue to see buying on the dips as funds are covering shorts and taking profits.
Kevin Duling, KD Investors, says it wasn’t the best close for the grains as the markets ran up into some chart resistance and are starting to look a little tired.
Allison Thompson with The Money Farm says a combination of factors drove soybeans higher including South American weather and China economic news. Corn and wheat followed. Cattle futures also made new highs for the move pushed by cash.
Scott Varilek, Kooima Kooima Varilek, says cattle are seeing a correction heading into the Cattle on Feed Report. Corn and soybeans are seeing hedge pressure and selling tied to extended forecasts showing rain in Brazil.
Mike Zuzulo, Global Commodity Analytics, says grains are seeing near term support from global weather concerns and improving demand. Livestock end in the red with a poor technical close in cattle on lower cash.
Scott Varilek, Kooima Kooima Varilek, says cattle are reacting to early cash which was lower but he says he is still looking for steady money. Grains take a breather, but he thinks that rally will continue with better demand and South American concerns.
Farmers are reclaiming much of the land that we nearly lost and we’re protecting it through innovation – making the land produce more but with the guarantee that the land continues to be productive for future generations.
USDA’s April WASDE report showed larger wheat and soybean ending stocks, but smaller ending stocks for corn. More surprising, still, was the lack of changes to South America’s crop estimates.
USDA cut its estimate for Brazil’s soybean production by 1 MMT in the March WASDE report, which was less than what the trade expected. USDA didn’t make any cuts to Brazil’s corn.
Jon Scheve discusses the likelihood of a market rally, and what needs to happen for it to become a reality.