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Severe floods in Brazil are causing concerns for the global soy market, production has deteriorated by 1% - USDA.

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Severe floods in Brazil are causing concerns for the global soy market, production has deteriorated by 1% - USDA.

The production of soybeans in the USA is projected to reach 153 million tons. Floods in Brazil have reduced production by 6%, but an increase in planting areas may offset the losses. Issues will become visible in a few months.

9 million tons of corn were exported in the first five months of 2024.

19 June 2024

According to the forecasts of the US Department of Agriculture, this year soybean production will amount to 153 million tons. However, severe floods in Brazil raise concerns about possible impact on the global market.

Estimates show that crop production has worsened by 1% compared to last month and by 6% compared to last year. Nevertheless, Brazil has planted more land this year, and it is expected to offset the situation. It is expected that the crop will be 7% above the average level of the last five years.

In April and May, the state of Rio Grande do Sul was flooded for a long time, leading to record amounts of rainfall. The US Department of Agriculture noted that the full effect of the floods will only be known in the coming months.

USDA data shows that from January to May 2024, Brazil exported 9 million tons of corn.

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Severe floods in Brazil are causing concerns for the global soy market, production has deteriorated by 1% - USDA.

The production of soybeans in the USA is projected to reach 153 million tons. Floods in Brazil have reduced production by 6%, but an increase in planting areas may offset the losses. Issues will become visible in a few months.

9 million tons of corn were exported in the first five months of 2024.

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Catalog

Fork Work

Severe floods in Brazil are causing concerns for the global soy market, production has deteriorated by 1% - USDA.

The production of soybeans in the USA is projected to reach 153 million tons. Floods in Brazil have reduced production by 6%, but an increase in planting areas may offset the losses. Issues will become visible in a few months. 9 million tons of corn were exported in the first five months of 2024.

The Minister of Agriculture has proposed a separate quota for grain exports to the Far East, including corn.

Grain exporters oppose "secret sanctions" against Russian products.

Putin agrees to supply grain to Afghanistan, Taliban may be recognized: Russian Foreign Ministry

Export of flour from Russia has increased by 137% due to restrictions on grain exports: market analysis.

"The construction of a new highway in Novorossiysk will improve the infrastructure of grain terminals."

China is suspending the acceptance of agricultural goods from Kazakhstan by grain wagons due to border station inspections.

Dmitry Patrushev: Russian agriculture continues to develop despite sanctions and logistic obstacles.

Seed sunflower importers temporarily suspend accepting orders due to restrictions in Russia.

The production of soybeans in the USA is projected to reach 153 million tons. Floods in Brazil have reduced production by 6%, but an increase in planting areas may offset the losses. Issues will become visible in a few months.

9 million tons of corn were exported in the first five months of 2024.