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U.S. soybean export window closes as corn window opens
Brazil’s record soybean crop is about to have a big impact on the export market.
Dale Durchholz, owner of Grain Cycles, tells Brownfield Brazil’s soybean exports are about to pick up steam, “And when they accelerate, they are going to accelerate. Our bean exports probably are really on the cusp of just drying up and going to nothing.”
Durchholz has a more optimistic outlook for U.S. corn exports because Brazil sold some of its first crop, which it usually holds onto for feed use, “We could actually see that (Brazil’s corn exports) initially a little bit smaller as they retain some of that corn for their own feeding industries down there, but we’ve got a window from now until we get to about the middle of July to be exporting corn out of the U.S. for what isn’t going to be coming out of South America.”
Brazil’s soybean harvest is about 25% complete, with second crop corn planting ongoing.
The USDA’s next set of supply and demand estimates is out March 8th and CONAB’s updated outlook for Brazil is scheduled for March 9th.
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