Just a reminder of what the USDA told us last Thursday:
metmike: Big stuff! Go beans! US Markets
crushers' association Abiove told a news conference on Monday.
By Ana Mano
SAO PAULO, Dec 14 (Reuters) - Brazil, the world's largest soybean producer, will likely import larger-than-usual volumes of the oilseeds next year to cater to domestic demand, oilseeds crushers' association Abiove told a news conference on Monday.
At the same time, internal demand is heated, Brazil will continue supplying its most prized export commodity to global clients, leaving little to crush internally, Abiove said.
Brazil's 2021 soybean imports will be 800,000 tonnes, up from 500,000 tonnes projected in November, according to Abiove data. This year, Brazil will likely import 1 million tonnes, an all-time record, it showed.
Brazil's soy suppliers are mainly in South America, but this year the country made a rare purchase from the United States.
Brazil has emerged as a significant soybean producer and competitive global exporter over the past few years, but demand from buyers like China depleted local stocks in recent months.
This year, Brazil's end stocks are estimated at 219,000 tonnes and next year they will be 419,000 tonnes, according to the association.
Brazil's farmers will reap a forecast 132.6 million tonnes of soy in 2021, up from an estimated 127 million tonnes in the previous year, Abiove said. It is being planted now, but a drought may hit output and yields.
On export markets, Brazil's sales are forecast to reach 83.5 million tonnes in 2021, 1.2 million tonnes more than this year, Abiove predicted.
Pretty good, especially corn and beans and especially at these prices!
SAO PAULO, Dec 16 (Reuters) - Brazil and China are in talks to boost corn trade between the two nations, though raising exports to the Asian nation at this time is unfeasible due to inter-harvest supply shortages, Abramilho, a corn producers association, said on Wednesday.
Only a fraction of Brazil’s corn sales went to China last year, or 68,550 tonnes, according to Brazilian government data. Total exports were 42.7 million tonnes in the period. By comparison, China bought almost 80% of Brazil’s soy, or 58 million tonnes last year.
On Tuesday, Bloomberg reported that Brazil was close to an agreement that would allow the nation to boost sales of the cereal to China, which needs it to feed a growing hog herd.
About two months ago, Abramilho officials attended a meeting with Chinese importers and authorities to discuss corn trade, Cesario Ramalho, the association’s president, said by telephone. At the time, Brazilian agriculture minister Tereza Cristina Dias told Chinese representatives that she was committed to taking measures that would allow Brazil to boost corn exports to China.
“We don’t need to rush to sell, there is no corn to sell,” Ramalho said. “Folks go crazy over China’s buying interest, but thank God we export to multiple clients like Japan, Iran and the European Union.”
Brazil’s agriculture ministry did not have an immediate comment. Anec, which represents grain exporters, declined to comment.
Abramilho said the measures to facilitate the corn trade with China would be relatively simple to introduce, explaining that the Chinese are concerned about a certain type of weed, which could be eliminated with the use herbicides.
Brazil plants two large corn crops per year and should collect a total of more than 102 million tonnes this season, according to government estimates.
The bulk of the corn is collected around the middle of the year, when farmers reap their second crop.
