Brazil grain market demand supports prices

Drought and relatively low stocks supported demand and continued to push grain prices even higher during the past week. With the drought still affecting Brazil, there are many concerns about the country's ability to meet global demand, whether China, Mexico or other importing countries. The question is also whether the United States will be able to fulfill this role in view of its reserves which are among the smallest in recent years. Especially since the sowing intentions do not announce any major changes in the face of the situation, which could continue to support prices. The United States Department of Agriculture (USDA) on Friday announced the export sale of 1.36 million tonnes of corn to China, from the new crop deliverable this year and in 2022. The fact that the Chinese want spending $ 6 or more on corn demonstrates the strength of global demand, experts say. The soybean price was on the rise because of low stocks in the United States and especially the very high prices of ...