Articles By Marcela Caetano
Buenos Aires Grain Exchange (BAGE) has cut its estimates for Argentina´s soybean output by 1 million tonnes, to 48.6 million tonnes, while increasing corn sowed area and sunflower production estimates, its weekly report showed on Thursday March 20.
US soybean sales for 2024/25 reached 352,600 tonnes in the week to March 13, down by 53% from the previous week’s 751,700 tonnes and by 29% from the prior four-week average, USDA data showed on Thursday March 20.
The Brazilian Association of Vegetable Oil Industries (Abiove) has cut its 2024/25 soybean output estimate to 170.9 million tonnes from the previous month's forecast of 171.7 million tonnes, while releasing final figures for 2024 with record levels of soymeal production and exports and soyoil output, in its monthly report released on Wednesday March 19.
Brazilian grain exporters’ association Anec has raised its estimates for Brazilian soybean exports in March to 15.56 million tonnes, up from the previous week’s forecast of 15.45 million tonnes, the association’s weekly report showed on Tuesday March 18.
Brazilian soybean exports reached to 6.8 million tonnes in the first two weeks of March, while corn shipments reached 612,929 tonnes in the same period, customs weekly data showed on Monday March 17.
The USDA’s attaché in Argentina has cut its projection for the country’s soybean production in 2024/25 to 49 million tonnes from the previous estimate of 52 million tonnes, and has increased its soybean crush estimates by 1.5 million tonnes to 43 million tonnes in 2023/24, a report released late on Thursday March 13 shows.
Brazilian food agency Conab slightly increased its estimates for the country's soybean output in 2024/25 by 1.3 million tonnes, to 167.4 million tonnes, and it raised its forecast for summer corn output by 5.4%, to 24.8 million tonnes, its monthly report showed on Thursday March 13.
US soybean sales for 2024/25 were reported at 751,700 tonnes in the week to March 6, up by 113% from the previous week’s 352,900 tonnes, landing above market participants’ expected range of 275,000-700,000 tonnes, USDA data showed on Thursday March 13.
The Argentinian Ministry of Human Capital has determined a mandatory conciliation after the Argentine Oilseed Crushers Union (SOEA) announced a strike starting on Wednesday March 12 in all crushing units and ports in Argentina after soybean crusher Vicentin paid only 30% of the total salaries due on Tuesday March 11.
The USDA reduced its global forecast for soybean ending stocks in 2024/25 below market expectations while keeping US estimates unchanged in its World Agricultural Supply and Demand Estimates report released on Tuesday March 11.
Brazil's Rio Grande do Sul state agency Emater has cut its estimates for soybean production by 30.4% and for corn production by 10.2% when compared with initial estimates, while also reducing the planted area forecast for both crops, the agency said on Tuesday March 11.
Brazilian soybean exports amounted to 3 million tonnes in the first week of March, while corn shipments reached 446,940 tonnes in the same period, surpassing the volume sent abroad in the whole month a year prior, customs weekly data showed on Monday March 10.
US and global soybean ending stocks are expected to decline according to the upcoming USDA World Agricultural Supply and Demand Estimates (WASDE); while production in Brazil and Argentina will remain unchanged, a Fastmarkets poll with nine traders and analysts showed on Monday March 10.
Brazilian soybean exports totaled 6.4 million tonnes in February, down by 2.7% year over year, while corn shipments fell by 16.4% to 1.4 million tonnes, monthly customs data showed on Friday March 7.
The Brazilian government announced late on Thursday March 6 that it has granted import tax exemptions for corn, sunoil and meat, among other products, in an attempt to control the increasing food inflation in the country.
Brazilian soybean, corn and soymeal exports are expected to rise in March, the country’s grain exporters association Anec said in its monthly report on Thursday March 6.
US soybean sales for 2024/25 reached 352,900 tonnes in the week to February 27, down by 14% from the previous week’s 410,900 tonnes, but unchanged from the prior four-week average, landing within market participants’ expected range of 300,000-550,000 tonnes, USDA data showed on Thursday March 6.
Rain continued to bring optimism to soybean producers in Argentina, as it has improved water conditions in crops, and it is expected to continue next week in the country’s core agricultural region; meanwhile, the corn harvest has started in the core region, the Buenos Aires Grains Exchange (BAGE) said in its weekly report released on Thursday February 27.
US soybean sales for 2024/25 were reported at 410,900 tonnes in the week to February 20, down by 14% from the previous week’s 480,300 tonnes but up by 10% from the prior four-week average, landing within market participants’ expected range of 200,000-600,000 tonnes, USDA data showed on Thursday February 27.
Brazil’s soybean harvest reached 36.4% of the projected area of 47.4 million hectares in the week ended February 23, a 10.9 percentage points advance, according to national food agency Conab’s weekly crop progress report published late on Monday February 24.