The severe drought is expected to reduce the European Union's corn harvest by 10 million tonnes, falling to a 15-year low of 55.4 million tonnes, consultancy Strategie Grains said in its monthly forecast on Thursday.
Exports of soybeans and corn from Brazil in the first week of August indicate that the country could end the month with shipments higher than those registered in the same period last year, if the pace of registrations continues, according to data from the Secretariat of Foreign Trade. , released this Monday.
Government sources confirm that there is a possibility that Brazil will ship the first batch of corn to China later this year.
The demand for corn from Brazil should remain firm this year, even in the face of the possibility of resumption of shipments from Ukraine, one of the main global suppliers of the cereal and a competitor of Brazilians in exports, in the assessment of industry members and analysts interviewed by Reuters.
Soybeans have their biggest weekly gain in 22 years in Chicago trading as forecasts of hot, dry weather in the US Midwest heightened supply concerns, while strong demand for soybean meal added support to the market.
The 2021/22 2nd harvest of corn reached 71.2% of the area in Brazil, compared to 63.4% in the previous week, with some states in the final stretch of work, announced this Friday the consultancy Pátria AgroNegócios.
The average price of fertilizers fell in June, improving the purchasing power of fertilizers by Brazilian farmers, according to the IPCF index calculated by the multinational in the sector Mosaic.
Brazil is re-discussing a protocol on corn shipments with the Chinese government to allow exports of the cereal in the second half of the year, the Brazilian agriculture minister said on Monday.
Sergei Lavrov, Russia's foreign minister, offered assurances about Russian grain supplies to Egypt during a visit to Cairo on Sunday, as uncertainty looms over a deal to resume Ukrainian exports from the Black Sea.
The second crop of corn 2021/22 reached 94.06% of the areas in Mato Grosso, the largest producer state of the cereal, an advance of 8.77 percentage points in the weekly variation, showed data from the Mato Grosso Institute of Agricultural Economics this week. Friday.
