PRO FARMER
USDA’s attaché in Brazil is expecting farmers to plant 42.5 million hectares (ha) in 2022-23. . .
In March, a total of 24,715 tractors were sold in the U.S., compared to 31,276 sold during the month last year, a 21% decrease, according to the Association of Equipment Manufacturer’s monthly “Flash Report.”
March’s PPI showed food costs climbed 2.4% from a month earlier, the largest increase since May. The jump was driven by higher grain, vegetable, cooking oil and pork prices.
Crop Consultant Dr. Michael Cordonnier raised his estimate of Paraguay’s corn crop by 1.5 MMT . . .
This summer’s average retail diesel price is estimated to average $4.57 per gallon, according to EIA.
Australia exported 2.8 MMT of wheat in February, which is thought to be a monthly record for the country, according to the Australian Bureau of Statistics (ABS).
USDA trimmed Brazil’s soybean production to 125.0 MMT, down 2.0 MMT from its March report and 14.5 MMT below last year.
The Buenos Aires Grain Exchange warned Argentina’s soybean production could fall below the current estimate of 42 MMT due to frosts over the past week.
Commodities could soar by as much as 40% if investors increase their investments in raw materials as an inflation hedge, according to JPMorgan Chase & Co.
Argentine farmers might plant as many as 2 million hectares (4.9 million acres) of sunflowers for the 2022-23 growing season, Bloomberg reported.