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SE Arkansas | I would like to also point out that the 50 percent of the Safrina crop which is in good shape, most of which is in Northern and Western Matto Grosso, is not out of the woods either. The forecast is dry going foreword for these regions as well. 65 MMT is a real possibility, and 55 MMT is possible. Brazil will not have much Corn to Export this year. USDA is also around 3 MMT high on Argentina’s Corn production. Also 4 MMT too low on US Exports. So the World Balance Sheet should tighten markedly over the next two WASDEs. Most of this has already been priced in. But in this year, nobody knows how high the price can go. | |
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Brazil corn production
