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Morning Wrap up: Soybean crop conditions and the very expensive corn

Por: Eduardo Vanin
Artigo, Grãos
Publicado em: 28/11/2023 08:43

No trades reported on Fob Paranaguá yesterday. Brokers said there were very few players participating in the last days. Farmer selling of corn and soybean is being very thin, and the replacement cost is prohibitive, especially for corn. Yesterday Agrinvest brokers reported corn trades at 49,5 BRL per sack in Goias, which correspond to a replacement cost Fob Santos close to +200z, way above Fob levels for January shipment (trade level at +80h). Temperatures will rise again for the next 7 days in center of Brazil, and rain are going to be concentrated down the South. Waiting time in Paranagua port jumped by 8 days as expected – due to berth maintenance. Rumors about Sino buying out of the US overnight.

Soybean Paper MKT – Nov 27th

Dec +75sf vs ??

Jan +55sh vs ??

Feb ?? vs -40sh 

Mar ?? vs -70sh

April ?? vs -75sk

May ?? vs -60sk

June ?? vs -55sn

Jul ?? vs -45sn

Trades reports: no reports.

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