Soybeans Brazil Supply/Demand Update Brazil’s Conab just released its first estimates for the 2017/18 campaign, which reflect the general trend of summer crop corn area migrating to soybeans. With the former down 6-10 percent at 4.93-5.15 million hectares, the report's significant numbers for soybeans include the following:
Planted area is up 2.7 percent at 34.5-35.2 million hectares. Yields are down 9.4 percent to 3,000 kg/hectare. Total production is estimated at 106-108 MMT.
Global Market Dynamics The Brazilian market has been very quiet in the past week, and November beans are still offered at $1.65X CNF China. That is still more expensive than U.S. Gulf (USG), which traded at $1.56-1.57 last week. Brazil’...
What You Need to Know Today: Russia rejected calls for a ceasefire in the Black Sea, including a proposal to halt attacks on civilian shipping that could help restore grain flows from Ukrainian ports. Tyson Foods announced plans to permanently close its Joslin, Illinois, beef processing facili...
The big news in the cattle markets yesterday was Tyson Foods’ move to close two more beef plants. One of them, the Joslin, Illinois, plant was shuttered immediately after the announcement. The other, in Eagle Mountain, Utah, is a case-ready plant that does not slaughter cattle. Tyson also...
The Bureau of Labor Statistics (BLS) released the Consumer Price Index (CPI) on Wednesday. In July, the CPI rose 0.1 percent, seasonally adjusted, and rose 3.4 percent over the last 12 months, not seasonally adjusted. The index for all items less food and energy, or the “core” infla...
