World Perspectives
feed-grains soy-oilseeds wheat

Mercosur Regional Analysis

Soybeans Last week was again volatile for South American soybeans. Brazil’s basis continued rising until USDA shocked the markets on Thursday with sharp soybean acreage reductions. The CBOT’s immediate reaction was to jump 20-30 cents for most positions, and that stopped all activity for basis. Meanwhile, traders were just preparing to leave for the long Easter weekend. As a result, there was not much intention to trade in the cash markets, especially considering that basis could drop with the board being so strong. Farmer selling was also slow/small for similar reasons with farmers waiting for markets to catch up today. Brazil still has room to sell soybeans for April, although potential volumes are limited. However, some Chi...

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feed-grains soy-oilseeds wheat

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