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Brazil: China continues to trade only with the US

Updated Mar 22, 2023
China continues to shop in the United States, which ends up discouraging business in Brazil, according to information released by TF Agroeconomia. “Premiums rose to $82 cents/bushel for July23, but retreated to $102 for Aug.23, $102 for September and $112 for October,” he comments.
“Another sale of US wheat to China, discouraging Brazilian business. Also support for the dollar, which rose just 0.05% and was canceled out by the 0.67% drop in the Chicago futures market. Furthermore, with so much internal liquidity, many industries stocked up until the end of May, others until June, which puts downward pressure on prices, without, however, encouraging sellers to sell abroad, because export premiums in Brazil remain stable. to slightly lower”, he adds. In Paraguay, the offer starts to be very adjusted and the second season is late. “Corn values remain firm. The local industry continues to seek to stock up on goods until the start of the new harvest, which should occur later than initially forecast. The availability of good quality lots is increasingly scarce, limiting business options. As for the next harvest, values are also firm, but it is difficult to find a seller willing to make commitments at this time. With late planting, the plants will be exposed to the ...
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