Death comes to us all. Life's but a walking shadow | Brazilian producers have only sold 58% of their crop as opposed to 76% last year. Last year Brazil produced 96.5 MMT of soybeans of which they exported 54.4 MMT, This year that's estimated to be 111.6 & 61.9 MMT respectively. Now, 76% of 96.5 MMT is 73 MMT and 58% of 111.6 is 65 MMT, so yes, even correcting for the reduced crop last year, Brazilian producers are behind in sales.
and: "US ag exports to Mexico have fallen during the first half of the year, as uncertainty grows over the future of NAFTA. During the first four months of 2017, Mexican imports of US soybean meal, used for poultry and cattle feed, have fallen 11%, the largest decline over that four-month period since 2003. US corn exports to Mexico fell 6% over the same period. Mexico is the United States’ top export market for both commodities. The numbers reflect the fact that Mexican companies are making more short-term purchases and simultaneously purchasing more from other countries like Brazil. “We are obviously concerned,” said Tom Sleight, president of the US Grains Council adding, “There is a palpable interest on the part of Mexico, I have heard that the Mexican people constantly refer to this as ‘Plan B,’ to reduce their dependence on the US for agricultural products and acquire them from other places.” (Tijuanotas)".
Rule No. 1: Don't alienate your best customer! |
The Latin America Crop Report for June 26, 2017
