Tuesday February 6, 2024

Flash sale: Exporters sold 155k tonnes of old crop corn to Mexico 

• Export Inspections
  • Corn and Wheat missed its export mark this week at 24.6 mbu and 9.8 mbu respectively
  • Soybean exports were well above trade estimates at 52.4 mbu, up from 33.6 last week but remains behinds last years exports which sat at 70.4 mbu. 
• Jordan bought 60k tonnes of feed wheat between the U.S., Canada, and Australia. 
• Brazilian center-south corn planting is progressing at its fastest pace since 2013 and up 11% over last year at 27% complete. The extra moisture is helping with the fast paced planting. 
• Ag Rural reported 16% of the Brazilian soybean crop to have been harvested. 
• Argentina saw some rainfall yesterday. Forecast are wetter to the north and drier to the south for the next 6-10 day. The corn crop is facing challenges during its pollination phase, with access dryness and heat. Soybeans are also seeing some challenges from the heat