Highlights
Sunday’s weather forecast indicates remnants of Hurricane Beryl will probably bring some rain to the Eastern Corn Belt over the next 7 days, where rain is really needed.
Eduardo Vanin reported Sunday that Brazil’s soybean farmers have contracted more than double the amount of new crop beans than they did last year at this time. However, the new crop soybean basis is firming instead of weakening. Like Eduardo said, that makes no sense, especially with the assumption Brazil will produce 170 million mts of soybeans in 2025, about 20 million more mts than the 2024 crop.
A powerful cold front in Central Argentina and all of Uruguay has brought heavy snow in some areas. This is Argentina's coldest winter since 1907. Cold air will bring heavy rain to Central Argentina and Southern Brazil, where flooding destroyed an estimated 2.6 million mts of stored soybeans in Rio Grande do Sul the past two months.