Informa Economics revised forecast for the U.S. 2018 corn yield upward to 178.8 bushels per acre (bpa) from 176.0 bpa, and raised its U.S. soybean yield forecast to 52.9 bpa from 50.0 bpa, Informa forecast U.S. 2018 corn production at 14.621 billion bushels and soybean production at 4.698 billion bushels.
Brazil’s transportation regulator on Wednesday raised minimum truck freight rates by 5 percent on average, a move that an exporters group estimated would cost the country’s grain sector 3.4 billion reais ($818 million). These minimum freight rates have been campaigned for by Brazilian truck drivers but the impact will be felt by the export sector already working under very narrow margins. In the first instance it may slow the flow of material to ports.
US / China trade rhetoric continues with China threatening retaliatory measures if further Tarrifs are imposed by the US.