Floods have ruined an important part of Argentina’s seeded soybean area, and farmers are now selling their stocks at $250/MT compared with $217/MT FAS at Rosario port two weeks ago. Meanwhile, Brazilian basis levels have been rising every day in the past two weeks, especially the July and August CNF. Weather Impact Rain has persisted non-stop over Argentina and almost all agricultural areas for approximately 20 days now. Some sections of the corn/soybean core areas have received more than 250 mm in the past two weeks, while Entre Rios has had about 200 mm in just in the last seven days. It must be remembered that that this rain fell over flooded/swamped soils, and the accumulation since 1 April is much higher than the amounts noted above...
What You Need to Know Today: After a period of limited activity, USDA reported a sizeable 613 KMT in soybean export sales, including 330 KMT to China and 283 KMT to unknown destinations, potentially also China. The purchases represent a meaningful pickup in demand and bring China closer to ful...
Key Takeaways: Consumer spending is a key driver of the U.S. economy, and the latest retail sales data indicate that spending remains robust despite inflation. In September, total retail and food service sales rose more than 6 percent year-over-year, with food service spending up 7 percent and...
The Trump import plan for 300,000 MT of beef supplies used for ground beef, i.e., lean trim, from September through November has, according to Secretary Brooke Rollins, brought some relief to beef prices. The Executive Order states that the Secretary of Agriculture will analyze and review the m...
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