Highlights
Milling wheat in Paris was up $8 per mt (~21.5¢ per bu) due to expectations Russia’s wheat crop will be reduced to the low 80 something mil. mts., possibly less than 80. That crop is made or lost in June, harvest begins on or about July 1st.
247AG reports Mexico is buying so much USA corn because there are experiencing their worst drought since 2011.
Eduardo Vanin of Agrinvest Commodities summarized his conversation yesterday with farmers in Brazil:
"Producers in Mato Grosso (MT) are very discontent with the state's situation as a whole. They are experiencing lower soybean yields (8% of crop failure), and now a safrinha corn crop failure (-25%). One producer and one agronomist of a local input retailer mentioned they are not confident about a soybean acreage expansion in the state due to the overall financial
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