Brazil Considering Temporary Suspension of Tariffs on Soybeans The Brazilian Agriculture Ministry today indicated it is considering temporarily removing import tariffs on rice, soybeans, and corn to reduce inflation. The tariff exemption is expected to be considered by a trade management committee (Gecex) in September. There is no question Brazilian domestic soybean prices have escalated in recent weeks as a result of very large exports and a weak currency. Yesterday, the spot FOB export price of soybeans at Brazilian ports was $405.75/MT. That was $28/MT higher than the spot FOB price of U.S. soybeans at Gulf ports and $14.75 above the price at NW ports. That high Brazilian soybean price may be positive for Brazilian soybean farmers, but...
What You Need to Know Today: The corn and soybean markets closed slightly higher in low-volume trade. The wheat market was mixed, with HRW continuing its downward trek on improved moisture. As expected, the bearish cattle on feed report drove down cattle prices and pulled hogs down with it. Mi...
Monday, 25 May is a U.S. holiday, and both the markets and our office will be closed. Please note that the next issue of Ag Perspectives will be published on Tuesday, 26 May. The WPI staff wishes everyone a safe and enjoyable holiday weekend...
USDA’s monthly cattle on feed report was released today. The total number of cattle on feed in feedlots with 1,000 head or more capacity amounted to 11.6 million head, 102 percent of last year. Source: USDA, WPI Placements were up, but part of that is attributable to persistent drought c...
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Accountability and a comprehensive approach to export programming
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