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Brazil’s Mato Grosso corn sales at fast pace

  • : Agriculture
  • 25/06/11

Farmer sales in Brazil's central-western Mato Grosso state in May advanced at a faster pace for the 2024-25 corn crop, whose harvest began in the week of 16 May.

The 2024-25 corn crop sales rose by 7.4 percentage points to 51.1pc negotiated by late May, according to the state's institute of agricultural economics Imea.

This is 14.9 percentage points above 2023-24 crop sales a year earlier, but the pace was still below the five-year average of 60.9pc for the period.

Forward sales for the 2025-26 corn crop advanced by 2 percentage points to 5.8pc, also ahead of the previous cycle's pace of 2.9pc in the same period of 2024. That level is behind the five-year average of 15pc for the same period.

Sales for Mato Grosso's 2023-24 corn crop are nearly finished, advancing to 99.6pc from 99.2pc in April, slightly ahead of the 99.4pc from the five-year average for the period. The state finished harvesting its 47.2mn t output under the 2023-24 season by August 2024. The 2022-23 crop was 97.4pc sold a year ago.

Soybean

Sales for the 2024-25 soybean crop advanced by 5.5 percentage points to 76pcin May, according to Imea. The crop has been fully harvested since 7 April.

That is 1.9 percentage point below the 77.9pc negotiated for the previous crop a year earlier and the five-year average of 82.4pc.

Forward sales for the 2025-26 soybean crop — whose planting starts in September — endedMay at nearly 14.2pc completion, up by 3.4 percentage points on the month.

That is almost 2.4 percentage points below the 16.5pc completion from the same month in 2024 and the five-year average of 25.7pc.

Cotton lint

Forward sales for the 2025-26 cotton lint crop — whose planting begins in December — advanced by 4.2 percentagepoints by Mayto 20.2pc of the expected output.

That is almost 7 percentage points ahead on the year and compares with a five-year average of 25.9pc for the period.

The 2024-25 cotton lint crop sales advanced by 2.8 percentage points to almost 62.8pc completion.

The cycle has been fully sowed since 28 February and harvesting should begin in June. The current pace surpasses last year's by 2.8 percentage points but is behind the five-year average of 71.1pc.

Mato Grosso's 2023-24 cotton lint sales reached 97.5pc by late May, from 94.3pc a month before. This is 1.2 percentage points above a year earlier for the 2022-23 crop, while the five-year average is 97.7pc.

By Sofia Zizza

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25/07/12

Trump threatens Mexico, EU with 30pc tariffs

Trump threatens Mexico, EU with 30pc tariffs

Washington, 12 July (Argus) — President Donald Trump on Saturday said the US will impose 30pc tariffs on goods imported from Mexico and the EU beginning on 1 August. In a move that could significantly disrupt crude, refined product and other commodity flows, Trump made public on his social media platform letters sent to Mexican president Claudia Sheinbaum and European Commission president Ursula von der Leyen on Friday threatening the new tariffs. Trump also vowed to raise the tariffs even higher if Mexico or the EU were to retaliate with their own measures. The threats follow similar letters sent to leaders of other countries this past week, including a 35pc tariff on Canadian imports , likewise starting on 1 August, and a 50pc tariff on Brazilian imports . In his letter to Sheinbaum, Trump repeated previous justifications for higher tariffs by pointing to "Mexico's failure to stop the Cartels" smuggling fentanyl into the US. "Mexico has been helping me secure the border, BUT, what Mexico has done is not enough," Trump wrote. "If for any reason you decide to raise your Tariffs, then whatever the number you choose to raise them by, will be added onto the 30pc that we charge," Trump wrote to Sheinbaum. His letter to von der Leyen included similar language. Trump's previous executive orders regarding tariffs on Mexico and Canada carved out exemptions for goods compliant with the US-Mexico-Canada free trade agreement. A White House official on Friday, following Trump's 10 July Canadian tariff announcement, said the exemption will remain in place, with a caveat that Trump has yet to determine the final form of application. Regarding the EU, Trump argued the 30pc figure "is far less than what is needed to eliminate the Trade Deficit disparity we have with the EU". Mexico's ministries of the economy, foreign affairs, finance, security and energy said in a statement Saturday that they met with their US counterparts on Friday to begin negotiations to head off the new tariffs before 1 August. "We stated at the meeting that [the new tariff plan] was unfair treatment and that we disagreed." After receipt of the new tariff letter, von der Leyen said Trump's tariffs "would disrupt essential transatlantic supply chains, to the detriment of businesses, consumers and patients on both sides of the Atlantic". The US has clinched only one limited trade deal, which keeps in place a 10pc tariff on US imports from the UK while granting a lower-tariff import quota for UK-made cars. Trump has announced a deal with Vietnam, setting tariffs at 20pc. By David Ivanovich Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

USDA boosts soy view on biofuel policy changes

25/07/11
25/07/11

USDA boosts soy view on biofuel policy changes

St Louis, 11 July (Argus) — The US Department of Agriculture (USDA) today raised its projected US soybean crush for the 2025-26 marketing year following recent policy changes that are expected to increase domestic soybean oil demand for biofuel production. US soybean crush is expected to rise to a record 69.1mn metric tonnes (t) in the 2025-26 marketing year, the USDA said Friday in its monthly World Agricultural Supply and Demand Estimates (Wasde) report, up by 1.36mn t from the June report. The latest forecast marks a 5pc increase from volume projected for the 2024-25 marketing year. The higher outlook for soybean crush was driven by a substantial increase in anticipated soybean oil use for biofuel production, which the USDA places at 7.03mn t for the marketing year ahead, up by 27pc from the volume expected for the current marketing year. The increased biofuel use outlook follows US policy changes that significantly strengthen support for biofuels made from domestically produced feedstocks through changes to the 45Z biofuels tax credit and Renewable Identification Number credits generated through the Renewable Fuel Standard. The US is also proposing to require record biofuel blending into the US fuel supply over the next two years, including unexpectedly strong quotas for biomass-based diesel. With the increase in soybean crush, USDA expects domestic soybean oil production will rise to a record 13.6mn t in 2025-26, up by 4.1pc from the current marketing year. Additionally, the USDA revised higher its expectation for soybean oil imports in 2025-26 to 200,000t, up by 13pc from the current marketing year. Following an elevated export rate over the first half of the current marketing year, US soybean oil exports are projected to collapse in 2025-26, down by 73pc from the current marketing year to 318,000t. The reduction in exports, in combination with increased supply, is projected to exceed the gains in biofuel demand, increasing stocks to 758,000t by the end of the 2025-26 marketing year, up by 15pc from the inventory level projected for the end of 2024-25. Soybean meal supplies swell The jump in soybean oil demand is as also expected to result in a record level of US soybean meal production in 2025-26, up 4.5pc from 2024-25 to 54.3mn t, according to USDA. Both domestic use and exports of soybean meal are projected higher for the next marketing year following the increased supply outlook. US soybean meal exports are projected to reach 17mn t, up 7.5pc from 2024-25, while US soybean meal domestic use is projected to rise by 2.8pc to 37.9mn t. Soybean mean stocks are projected to increase as well, reaching 431,000t by the end of 2025-26, up 5.6pc from the level projected for the end of the 2024-25 marketing year. By Ryan Koory July 2025 USDA projections 2025-26 Chg from Jun 2024-25 Chg from Prior MY U.S. soybean oil supply and use ( mn t ) Supply -Beginning stocks 0.66 - 0.70 - -Production 13.59 0.27 13.06 - --Extraction ratio (pc) 19.67 0.00 19.83 - -Imports 0.20 0.07 0.18 -0.05 Total supply 14.46 0.34 13.95 -0.05 Use -Domestic disappearance 13.38 0.73 12.11 -0.14 --Biofuel 7.03 0.73 5.56 -0.39 --Food, feed and other Industrial 6.35 - 6.55 0.25 -Exports 0.32 -0.45 1.18 0.09 Total use 13.70 0.27 13.29 -0.05 -Ending stocks 0.76 0.06 0.66 - -Stocks-to-use (pc) 5.53 0.36 4.95 0.02 U.S. soybean meal supply and use ( mn t ) Supply -Beginning stocks 0.41 - 0.41 - -Production 54.30 1.04 51.98 - --Extraction ratio (pc) 78.54 -0.04 78.92 - -Imports 0.59 - 0.66 0.09 Total supply 55.29 1.04 53.05 0.09 Use -Domestic disappearance 37.90 0.41 36.85 0.09 -Exports 16.96 0.64 15.79 - Total use 54.86 1.04 52.64 0.09 -Ending stocks 0.43 - 0.41 - -Stocks-to-use (pc) 0.79 -0.02 0.78 -0.00 October-September markeing year — USDA, Argus Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

Trump Brazil tariff threat concerns US beef importers

25/07/11
25/07/11

Trump Brazil tariff threat concerns US beef importers

Sao Paulo, 11 July (Argus) — US president Donald Trump's threat to apply a 50pc tariff on Brazilian imports was not welcomed by US beef importers, Brazilian beef exports association ABIEC's president Roberto Perosa said. Perosa said while meeting with around 50 US companies that import beef from Brazil this week he discussed the possible economic effects from the threatened tariffs , which could raise prices that he said used to be beneficial for American consumers. "It's a damaging decision with no technical basis in [the companies'] perspective," he said. Brazil beef imports into the US in April were nearly five times higher than imports from a year earlier, but they dropped in May and June due to other US tariffs . The US has been the second-largest buyer of Brazilian beef since 2022, with almost 230,000 metric tonnes (t) imported last year. The US accounted for 8pc of Brazil's beef exports in 2024, only behind China with 46pc, according to Netherlands-based investment bank Rabobank. Brazil, the world's largest meat exporter, shipped a record 2.9mn t of beef in 2024, a 26pc increase from a year before, according to ABIEC. Open gates The World Organisation for Animal Heath (WOAH)'s May decision to declare Brazil free from the highly contagious foot-and-mouth disease (FMD) affecting livestock without vaccinations may allow access to new markets and boost exports , according to the government. Brazil has opened its beef market to 19 countries so far, according to ministry of agriculture and cattle raising's trading and international affairs secretary Luis Rua. The last countries to open their markets to Brazilian beef were El Salvador and the Bahamas, according to the ministry. By João Curi Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

Canada focuses on new US deadline, diversifying trade

25/07/11
25/07/11

Canada focuses on new US deadline, diversifying trade

Calgary, 11 July (Argus) — Canadian prime minister Mark Carney reiterated his plan to diversify trade with countries "throughout the world" following another round of tariff threats, and another deadline, from US president Donald Trump. Carney's comments on social media late on 10 July came hours after Trump said Canada could expect a 35pc tariff on all imports , effective 1 August, repeating earlier claims that the northern country was not doing enough to stop fentanyl from crossing into the US. Canada has said these claims are bogus but in late-2024 still committed to spending $900bn (C$1.3bn) on border security measures over six years. "Canada has made vital progress to stop the source of fentanyl in North America," Carney wrote on X. The prime minister said he is now working to strike a new trade deal before the 1 August deadline. Trump and Carney last month agreed they would work toward a broad trade agreement by mid-July, with Canada at the time targeting 21 July to finalize a deal. The 35pc tariff would be separate from tariffs set for specific sectors, which include a 50pc tariff on copper imports. It is not clear if any imports currently covered by the US-Mexico-Canada trade agreement (USMCA) would be affected by Trump's latest tariff threats. Carney has advocated the need to shore up trade partnerships with "reliable" countries since being sworn is as prime minister in March, saying the old relationship with the US "is over". The energy-rich nation needs to build more infrastructure to unlock this potential, and with a surge in public support, is trying to entice developers with a new law to fast-track project approvals . But those are multi-year efforts and Canada is still trying to reach a deal with the US to keep goods moving smoothly. The two economies are highly integrated with $762bn worth of goods crossing the US-Canada border in 2024, according to the Office of the US Trade Representative. Canada on 29 June rescinded a digital sales tax (DST) that would have collected revenue from the US' largest tech companies, after US secretary of commerce Howard Lutnick said the tax could have been a deal breaker in trade negotiations. That show of good faith — which seemingly got nothing in return — was criticized within Canada and contrary to Carney's repeated "elbows up" mantra in the face of Trump's threats. By Brett Holmes Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

US biofuel support clears way for new crush capacity

25/07/10
25/07/10

US biofuel support clears way for new crush capacity

New York, 10 July (Argus) — North American oilseed crushers told Argus that projects to increase processing capacity are on track for the next year, potentially enabling more renewable fuel production. After a difficult start to the year for biofuel producers, US policymakers are increasingly making clear that they want refiners to up their output in future years and rely more on domestic feedstocks like soybean oil. That could pave the way for more oilseed crush capacity to come online, after some facilities delayed or cancelled plans over the last year on stagnant demand. Companies confirmed to Argus that more than 620,000 bu/d of new soybean and canola crush capacity were on track to come online in North America in the next year, and other facilities that did not respond to requests for comment have plans in the coming years too. Greater vegetable oil supply also could at least partly address concerns from oil and biofuel refiners that Republicans' protectionist approach to biofuels threatens feedstock shortages and price spikes. A multi-seed crush facility under construction in Mitchell, South Dakota — which will be able to process up to 96,000 bu/d of soybeans — is scheduled to start up this October, South Dakota Soybean Processors chief executive Tom Kersting told Argus. US crush company Ag Processing similarly said that a new 137,000 bu/d soybean crush plant in David City, Nebraska, will open "later this year". In Canada, Cargill confirmed that a 121,000 bu/d canola processing plant in Regina, Saskatchewan is also on track to open this year. In the first half of next year, French agribusiness Louis Dreyfus said it plans to complete two major projects in North America. The company plans to open a 151,000 bu/d soybean crush plant in Upper Sandusky, Ohio, and to double capacity to more than 240,000 bu/d at a canola crush facility in Yorkton, Saskatchewan. US soybean oil futures have climbed by 12pc in the past month on recent policy shifts, providing more incentive for processors — already crushing more soybeans than ever before — to expand production. The US recently proposed record-high biofuel blend mandates for the next two years, projecting that domestic soybean oil production could increase by 250mn USG/yr. And President Donald Trump over the weekend signed legislation that retools a crucial US tax credit to increase subsidies for crop-based fuels. Canadian canola processors, which depend on US incentives because Canada's biofuel sector is far smaller, benefit less from some of these policy shifts. While US fuels made from Canadian feedstocks can still claim the tax incentive next year, the Trump administration has proposed halving credits generated under the biofuel blend mandate for fuels made from foreign feedstocks. That makes US soybean oil a far more attractive input for US refiners than Canadian canola oil. A Canadian farm cooperative earlier this year paused plans for a combined canola crush and renewable diesel plant in Regina, Saskatchewan, citing "regulatory and political uncertainty". And Bunge was vague about its plans for building the world's largest canola crush plant in the same city, which was initially envisioned to start up last year. The US-based agribusiness, which recently took over the project with its acquisition of Viterra, told Argus it was "focused on integration to ensure a smooth transition for our customers" and "may be able to provide an update in the near future". Even then, canola oil stands to benefit from increased demand from food companies if more US soybean oil is diverted to fuel markets. And despite recent struggles for other Canadian biorefineries, ExxonMobil subsidiary Imperial Oil has plans to soon open a 20,000 b/d renewable diesel plant in Alberta that will draw on canola oil. Canadian policymakers have taken steps to assuage local feedstock suppliers and refiners, including a domestic renewable fuel mandate in British Columbia and a proposed mandate in Ontario. Biofuel production and oilseed crush margins also will depend on interactions with other policies, including a temporary tax break through 2026 in the US for small biodiesel producers — historically more reliant on vegetable oils than more versatile renewable diesel plants — as well as low-carbon fuel standards in the US west coast region and Canada. The perennial risk for any company is that policy, especially around biofuels, often swings unexpectedly. By Cole Martin Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

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