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Roberto Samora

UPDATE 1-Brazil 'revisiting' 2018, 2019 soybean output estimates -official

Aug 14 2019

SAO PAULO, Aug 14 Brazil is "revisiting" its soybean output estimates for the 2018 and 2019 crop seasons, an official told Reuters on Wednesday, as discrepancies with private-sector estimates raised doubts about the accuracy of the government's supply and demand figures.

U.S.-China trade war boosts Brazil local soy prices, spurs deals

Aug 07 2019

SAO PAULO The price of Brazilian soybeans in local currency reached the highest level in almost two months, driven by a spike in port premiums for soybeans and a weaker currency, both caused by the trade dispute between China and the United States.

UPDATE 2-Brazil's new soy crop area seen growing 2.3% to 36.7 mln hectares

Aug 06 2019

(Adds pictures available, no changes to headline or text) By Roberto Samora SAO PAULO, Aug 6 Brazil's new soybean crop, which farmers are expected to start planting next month, is seen reaching 36.7 million hectares (90.68 million acres), an area 2.3% larger than seen in the previous crop, according to the average forecast from a poll of analysts. Output of the new crop was seen on average at 122.8 million tonnes, 6.8% more than in the previous season, according to the poll. Analysts said expansion of soy planting will probably be limited by China's swine flu outbreak, lower global soy prices and the potential for higher transportation costs in Brazil. If the poll's estimates are confirmed, Brazil would surpass the United States as the world's top producer. According to the latest USDA forecast, the U.S. farmers are expected to produce 104.64 million tonnes in the current season that was hit by above-average rains. Still, Brazilian farmers remained cautious. "We have many things to worry about," said the head of soy producers association Aprosoja, Bartolomeu Braz Pereira. "The issue with the minimum truck freight prices has not been solved. Production costs are high. And the trade spat between the U.S. and China is very worrying," he said. Analyst's projections accounted for a possible productivity recovery from last season's drought-hit crop that came in at 115 million tonnes, below the 2017/18 record of 119.3 million tonnes. The Brazilian government is still evaluating demands from truckers regarding higher freight values. Since much of Brazil production is far from the ports and transported by trucks, a spike in transportation costs would hit farmers and traders. Some analysts believe the U.S.-China trade war has more negatives than positives for Brazil because it has hurt soybean prices, even though Brazilian soy has enjoyed premiums over Chicago values. "The trade war and the swine flu outbreak in China are pressuring reference soy prices. These factors are limiting the growth in planted area in Brazil," said Aedson Pereira, a grain analyst with IEG FNP. See below a table with detailed estimates from the poll: ANALYST SOY CROP AREA 2019/20 Aprosoja 121,36 36,99 ARC Mercosul 121,90 37,07 Céleres 124,00 36,90 Cerealpar 125,00 - Cogo 123,5 36,40 Datagro 125,30 36,80 IEG FNP 123,00 36,60 Rabobank 117,50 36,40 Safras & 123,80 36,63 Mercado USDA 123,00 - AVERAGE 122,8 36,7 HIGHEST 125,30 37,07 ESTIMATE SMALLEST 117,50 36,40 ESTIMATE Conab 115,00 35,87 2018/19 % CHANGE VS 6,8% 2,3% CONAB Compiled by Reuters (Reporting by Roberto Samora, writing by Marcelo Teixeira; Editing by David Gregorio)

Brazil's JBS invests in new biodiesel plant amid clean fuel push

Jul 30 2019

SAO PAULO A unit of Brazil's JBS SA plans to invest 180 million reais ($47.5 million) to build a biodiesel plant entering service by 2021, as the company looks to cash in on Brazil's accelerating clean fuel drive, according to a statement on Tuesday.

Iran grain ships stuck in Brazil without fuel due to U.S. sanctions

Jul 18 2019

SAO PAULO/RIO DE JANEIRO Two Iranian vessels have been stranded for weeks at Brazilian ports, unable to head back to Iran due to lack of fuel, which state-run oil firm Petrobras refuses to sell them due to sanctions imposed by the United States.

Brazil holds agricultural financing volume for 2019-20 steady, raises borrowing costs

Jun 18 2019

SAO PAULO, June 18 Brazilian farmers will have 222.7 billion reais ($57.7 billion) in financing for the 2019-20 crop, and interest rates will rise for the largest producers as the Brazilian government tries to curb its large deficit.

Some U.S. ethanol makers looking to buy Brazilian corn: RFA

Jun 18 2019

SAO PAULO Some U.S. ethanol makers are considering buying corn from Brazil to guarantee supply as domestic crop prices are rising, the chief of the Renewable Fuels Association (RFA) said on Tuesday.

Soaring corn prices pinch Brazil meatpackers amid Chinese meat bonanza

Jun 17 2019

SAO PAULO Brazilian pork and poultry processors, who have benefited from strong exports to China amid the African swine fever outbreak, are starting to feel the pinch now at home as prices soar for corn, the main ingredient in animal feed.

UPDATE 1-Brazilian oilseeds group: Traders may cut farmer credit due to defaults

Jun 11 2019

SAO PAULO, June 11 Abiove, Brazil's oilseeds industry group, said on Tuesday that commodities traders may reduce financing to farmers by around 50% for the new crop (2019/20) due to defaults and bankruptcy protection requests in the sector.

Brazil niobium miner may spend $774 million to boost capacity

Jun 06 2019

SAO PAULO Brazilian niobium miner Cia Brasileira de Metalurgica e Mineração is considering investing at least 3 billion reais ($773.49 million) to expand capacity should Chinese steel demand keep growing rapidly in the next few years, its chief executive said on Thursday.

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