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EC SD | Nothing to see - move along... lol
USDA insists that virtually no production losses in Brazil occurred in 23/24. Just 1% below their initial forecasts.... Same story for Argentina. USDA has not recognized the damage there either. Harvest is completed and exports are way down. A 500 million bu shortfall, according to local officials compared to USDA. Eight percent production losses is a disaster year, yet USDA says it was a great production year for them. South American corn exports are way down though. Hmmm.... Farmers there must be hoarding corn - what a joke...
Ukraine production also down this year, so we should see increased US corn exports for this crop, even without the fire sale prices of today. | |
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Conab
