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- Dollar recover slightly both in Argentina and brazil. In the case of Argentina, central bank made clear that intervention will be there when values reach $ 2.80. Current values, Argentina 2.84; Brasil 2.92.
- Some rains marked the end of the dry summer. Although deficit remains there, good rains after eastern favored the initial labors for winter crops plantings. A minor increase on area, is expected for winter crops in all countries including Paraguay and Uruguay. These same rains kept delaying the harvest of the summer crops, specially the corn. Yields, both in corn and soybeans proved to be affected by the excessively dry end of the summer.
- The over estimation of South American crops , with its consequent logistical mess never materialized as the lower yields refrained farmers from keeping their commercial activity on the high side. In fact, shipments during April proved disappointing: Maize Upriver: 1,288,000 Tons vrs 1,736,000 Tons on April 03. Soybeans Upriver: 1,430,000 Tons vrs. 1,591,000 Tons on April 03. Maize Paranagua: 228,000 Tons vrs 306,000 Tons on April 03. Soybeans Paranagua: 1,088,000.00 Tons vrs 1,335,000.00 on April 03. Which resulted in a tidy fashion trade, and practically no congestion in the main ports. South American Soybeans (and its products) remain relatively competitive, while Maize premiums adjusted upwards as a consequence of the smaller availability.
CURRENT VALUES:
ARG WHEAT PORT SELLER BUYER
MAY 04 UPRIVER 165 VS NB
MAY 04 NECO 167 VS 164
MAY 04 BBCA 170 VS NB
JUNE 04 UPRIVER 167 VS NB
JUNE 04 NECO 169 VS 165
JUNE 04 BBCA 172 VS NB
ARG MAIZE PORT SELLER BUYER
MAY 04 UPRIVER 2 N VS - 5 N
JUNE 04 UPRIVER 5 N VS - 8 N
JULY 04 UPRIVER 8 N VS - 1 N
ARG SBEANS PORT SELLER BUYER
MAY 04 UPRIVER - 130 N VS NB
JUNE 04 UPRIVER -120 N VS - 150 N
JULY 04 UPRIVER -100 N VS - 140 N
ARG SBEANSPLLTS PORT SELLER BUYER
MAY 04 UPRIVER - 88 VS - 90
JJ 04 UPRIVER - 84 VS - 87
AS 04 UPRIVER - 49 VS NB
OD 04 UPRIVER - 18 VS - 20
BRAZILIAN SBEANS PORT SELLER BUYER
MAY 04 PARANAGUA - 125 VS - 140
JUNE 04 PARANAGUA - 105 VS NB
JJ 04 PARANAGUA - 105 VS NB
JULY 04 PARANAGUA - 100 VS - 120
AUG 04 PARANAGUA -20 VS -45
JUNE 04 RIO GRANDE -105 VS NB
BRAZILIAN SBEANSPLLTS PORT SELLER BUYER
MAY 04 PARANAGUA - 70 VS - 73
JJ 04 PARANAGUA - 66 VS - 70
AS 04 PARANAGUA - 34 VS - 37
OD 04 PARANAGUA 3 VS 1
Previous reports:
April first
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