Soybean futures gapped upward in the Sunday evening session, trading 10-12 cents higher most of the night. The March contract traded right to $10.20, which is considered major technical resistance. The driver is weather across southern Brazil and Argentina. It continues to be dry there with little apparent relief in sight through the next two weeks (see eight-14 day precipitation map below).
This weather pattern has once again resurrected talk about a La Nina. Some chatter focuses on the potential for one to develop, and others say that a La Nina is already underway with the effects now just depending on the degree or strength. Such a weather event occurs when the sea surface temperatures (SSTs) between Australia and Peru turn cooler tha...
Grain China’s General Administration of Customs says that grain imports were up 34.3 percent in April and an overall 18.1 percent for the January to April period. On the one hand, China produces more grain that it consumes and stockpiles large volumes. But Canadian grain analyst Mitch Mil...
As we reported on 19 May, China has also committed to the resumption of U.S. poultry imports from states without confirmed HPAI detections. USDA’s Animal and Plant Health Inspection Service (APHIS) has updated its China export restrictions webpage to reflect that China has lifted HPAI-rel...
Key Takeaways: Brazil has been the second-largest producer of fuel ethanol globally, but almost all of it was derived from sugarcane until recently. Corn ethanol production has increased due to expanded second-crop corn production, sugarcane storage limitations, and biofuel policy. Brazil is e...
