USDA Projects Record Corn Harvest
U.S. corn futures plunged to contract lows on Tuesday after the Department of Agriculture projected a record-shattering corn harvest this year as farmers planted more acres than expected and the crop faced few weather challenges this summer.Soybeans reversed earlier losses after the USDA, in a monthly crop supply and demand report, forecast a smaller-than-expected U.S. harvest and tighter supplies as growers seeded fewer acres than previously thought.Chicago Board of Trade wheat followed corn futures lower…
Brazil on Track to Become World Maize Export Leader in '23
“Brazil remains on track for a record maize harvest this year, and exports could rise 8% in 2023. Brazil could thereby become the world’s largest maize exporter this year, which would partially offset weaker harvests in the US, Argentina, and Ukraine, and benefit panamax and supramax ships,” says Filipe Gouveia, Shipping Analyst at BIMCO.Exports of Brazilian maize are expected to strengthen from June onwards as Brazil harvests this year’s second maize crop, commonly known as “safrinha”.
