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0:00 Argentina News
6:56 Crop Conditions
11:05 Brazil Update
12:04 Grain Shipments
13:00 Cattle Rally


🌎 Argentina Suspends Export Taxes
Argentina halted export taxes on corn, soybeans, wheat, and more in a bid to boost sales and stabilize the peso. The suspension runs through October or until $7B in exports are declared. Analysts warn a wave of selling could trigger a supply glut. Argentina is a top corn exporter and the world’s largest shipper of soybean meal and oil.

💵 US Steps In
Treasury Secretary Scott Bessent said the US is ready to use all necessary measures to help Argentina avoid another financial crisis after a sharp peso sell-off.

🌱 US Crop Conditions & Harvest
Corn: 66% good/excellent, the highest since 2018 for this week. 11% harvested.
Soybeans: 61% good/excellent, 9% harvested.
Winter wheat planting: 20% complete, the slowest since 2021.
Spring wheat harvest: 96% complete.

🇧🇷 Brazil Planting Update
Soybeans: 0.9% planted, matching last year. Projected record 177.7 MMT crop.
First corn crop: 25% planted, just behind last year.

🚢 Export Shipments
Corn: 1.4 MMT inspected, up 16% vs. last year.
Soybeans: 484k MT, sharply lower from last week.
Wheat: 854k MT, stronger than expected.

🐂 Cattle Futures Surge
A New World screwworm case near the US-Mexico border pushed live and feeder cattle higher, with deferred feeders locking limit-up. Imports from Mexico remain restricted, tightening US supply.

📢 Flash Corn Sale
US exporters sold 320k MT of corn to Mexico for 2025/26 delivery.