CONAB trim production (soybean) estimates
Amid what has been an ongoing drought in southern Brazil, downgrades to production have been no great surprise, but it waits to be seen if the USDA also reflects drought impacted production estimates.
Soybean production estimates were downgraded from 142.8Mt to 140.5Mt, while the USDA estimated 144Mt in the December WASDE, watch for downgrades tomorrow.
Corn production estimates were also downgraded, with total corn estimated at 112.9Mt, down from 117.2Mt, while the USDA estimated 118Mt in the December WASDE.
With drought conditions also impacting Argentina, watch out for further trims to South American production estimates in the January WASDE and other supply and demand estimates.
Read also
Jordan purchases 50 thsd tons of barley in tender
USDA warns of possible foot-and-mouth outbreak in Russia amid mass livestock culling
BLACK SEA GRAIN. KYIV: Join with a SMART rate by March 31!
China has opened its market to imports of Ukrainian peas
Vegetable oil prices have stopped responding to speculative jumps in cude oil prices
Got additional questions?
We will be happy to assist!
Write to us
Our manager will contact you soon