Articles By Leticia Pakulski
Brazil’s Paraná state raised its 2023/24 second corn crop production forecast to 12.96 million tonnes, up from the 12.95 million tonnes in the June, after increasing both its planted area and yield estimates, the state's agricultural agency Deral, said in its monthly report on Thursday July 25.
The Brazilian government has suspended the country’s exports of poultry meat to China — its main importer — on Friday July 19, as well as restricted shipments for another 43 countries after the confirmation of a case of Newcastle disease in a commercial poultry production unit in the state of Rio Grande do Sul.
Soyoil export premiums for short-term loadings have increased in Brazil in the week to Wednesday July 17, and the spread between Brazilian and Argentine soyoil bases widened in the past week amid rising domestic soyoil prices in Brazil.
Brazil’s second corn crop (safrinha) harvest advanced by 13.1 percentage points in the week to Sunday July 14, reaching 74.2% of the 16.2 million hectare projected area, national food agency CONAB said late on Monday July 15.
Brazil’s second corn crop (safrinha) harvest advanced by 13.2 percentage points in the week to Sunday July 7, reaching 61.1% of the 16.2 million-hectare projected area, national food agency Conab said late on Monday July 8.
US soyoil exports hit a marketing-year high at 29,200 tonnes in the week to June 27, versus 5,100 tonnes shipped in the previous week, reflecting recent strong new commitments for the 2023/24 crop year, the USDA reported on Friday June 5.
Brazil´s second corn crop is expected to reach 100.5 million tonnes, down by 9.9% from the 111.5 million tonnes in the 2022/23 crop year, due to losses caused by dry weather in Paraná and Mato Grosso do Sul, but partially offset by positive results in Mato Grosso and Goiás, local consultancy Agroconsult said.
Argentina crushed 3.97 million tonnes of soybeans in May, up by 13.6% from a year earlier, but the share of imported soybeans remained high even at the peak of the harvest, reflecting higher availability from Paraguay and lower-than-expected domestic farmer sales.
After two weeks of strong export sales results for soyoil, US net reductions totaled 10,600 tonnes for 2023/24 — a marketing-year low — in the week to June 20, the USDA reported on Thursday June 27.
The US has allowed the import of used cooking oil (UCO) from Brazil, the South American country's government announced on Thursday June 20 after the US accepted Brazil's international sanitary certification.
Weekly US net export sales of soyoil rose by 43% in the week to June 13 and reached the highest level since the end of February, with fresh net commitments of 20,900 tonnes of soyoil reported by the USDA on Thursday June 21.
Agricultural company Bunge announced on Thursday June 20 that it has signed a definite agreement to sell its 50% stake in the Brazil-based sugar and ethanol joint venture BP Bunge Bioenergia to bp, its partner in the JV.
The harvesting of Brazil's second corn crop reached a 21% completion rate in the center-south of Brazil on Thursday June 13, the highest level on record, according to local consultancy Agrural.
US net export sales of soyoil rose 143% in the week to June 6 and were the highest since mid-April, with fresh net commitments of 14,600 tonnes of soyoil reported by the USDA on Thursday June 13.
The president of the Brazilian Senate, Rodrigo Pacheco, announced on Tuesday June 11 that part of the provisional legal act regarding the use of accumulated tax credits from the PIS/Cofins tax would be returned to the executive branch following intense backlash from the country’s industry, including the agricultural sector.
Brazilian soybean and soy product markets stalled on Wednesday June 5, with market participants reassessing margins after the government changed key tax credit rules.
Soyoil premiums in Argentina reached their highest point since July 2022 on Monday June 3 after consistently increasing over the past weeks on a combination of slow farmer sales, lack of natural gas to operate crushing facilities, and the need to fill vessels previously contracted for export, according to Fastmarkets’ assessments and intel from on-the-ground sources.
Brazil’s soybean harvest advanced by 1.1 percentage points in the week to Sunday May 26, reaching 98.1% of the 45.7 million-hectare projected area...
Brazilian soybean exports totaled 11.2 million tonnes in the first four weeks of May, 39% lower than the 15.58 million tonnes sent abroad in the full month of May 2023...
US weekly soyoil net sales reductions totaled 1,000 tonnes in the week to May 16 and were below market expectations, while soyoil shipments reached a marketing-year high, according to data from the US Department of Agriculture released on Thursday May 23.