Wednesday May 15, 2024

• Flash Sale: 450k tonnes of corn sold to Mexico – 135k for 23/24 delivery and 270k for 24/25 delivery. The chart below lays out the Daily flash sales since the beginning of the year.
• French farm ministry projects 2024 corn planted corns at 3.6mln acres, up almost 10% vs last year but still 5% below the 5 year average. 
• Brazilian’s Conab raised their soybean production estimates to 147.68mmt from 146.52 last month despite the flooding over the past weeks. Total corn production was also raised m/m to 111.636 vs 110.964mmt with most of the increase coming from second crop corn production. 
• Brazilian exports agency Anec estimated May soybean exports up from last weeks 13.21mmt to 14.13mmt, corn exports of 828k tonnes up from last week, and wheat exports hold steady at 24,150 tonnes. 
• Argentina remains dry for harvest while rains linger in southern Brazil. 
• Russia has made key advances in the war against Ukraine, news was released that Putin will visit to Chinese president Xi next week.