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ORIGIN BEAN CRUSH SLOWS AS CHINA GROWS
The USDA in October WASDE reduced Argentine old crop production by 700 tmt from Sep while reducing exports and crush, as Argentina loses competitiveness versus the US. Brazil crushers have also started to feel the shortage of beans, despite previously loading significant meal. Despite the changes from September, the USDA estimates major origin crush to […]
Tags: ag, Argentina, brazil, crush, exports, soybean meal, Soybeans, US, USDA -
The Latam Corona vs. Economy Dilemma
Coronavirus was a distant concern for us in Latin America back in February. Higher infection rates in colder weather made the idea of COVID-19 even harder to grasp as a threat. Life continued as normal, and the pandemic felt a world away. To our chagrin, we learned that cold Cuba Libres at the beach would […]
Tags: Argentina, brazil, coronavirus, covid-19, crude, diesel, Ecuador, gasoline, mexico, middle distillates, Venezuela -
Awaiting the Rebound in Latin American Product Demand
The number of coronavirus cases in Latin America continues to rise, with more than 1.4 million people infected in Brazil and Mexico. The lockdowns and quarantines of recent months have weighed heavily on clean product demand in these countries – something starkly reflected in their import volumes. As we close out June, Mexican clean product […]
Tags: brazil, central america, gasoline, latam, latin america, mexico, Middle Distillate -
Brazil Flows Mostly Holding Up Despite Coronavirus
Brazil is maintaining both strong imports of gasoline and oil exports despite lower domestic demand and oil production cuts. Yet, exports of fuel oil have been hit by the global economic slowdown of recent months. Meanwhile, coronavirus cases in the country are spiking. The South American country is one of the hardest-hit countries by the […]
Tags: brazil, coronavirus, covid-19, fuel oil, gasoline, middle distillates, oil -
Brazil Pushes More Crude onto the Global Battleground
Brazilian crude exports to Europe are ticking higher so far this year as appetite for heavy grades stands strong following the new regulation on marine fuels, known as IMO 2020. Brazilian loadings bound for Europe have been kicking higher so far this year. While flows to Northwest Europe have been considerably stronger since October, loadings […]
Tags: brazil, coronavirus, crude, crude oil, crude oil exports, Europe, oil -
Brazilian Group II Appetite Grows
Exports of Group II base oils from the United States to Brazil grew for the third consecutive year in 2019 as Brazil’s demand for more advanced lubricant formulations continues to grow. US exports of Group II products to Brazil hit a record 274,897 tons in 2019, up from 228,342 tons in 2018 and 123,788 tons […]
Tags: brazil, lubricants, oils, special, US -
A Brazilian Boost, Across the Barrel
Brazil has emerged as a global powerhouse in the crude market after production reached a record high last year of over 3 million barrels per day. Exports rose in tandem with production, climbing to average over 1mn bpd. The South American nation is now also supplementing its crude efforts via higher levels of fuel oil […]
Tags: brazil, Brazil crude oil exports, brazil fuel oil exports, fuel oil, IMO 2020 -
Brazil and Argentina: Winning on IMO 2020
We noted recently that Mexico and Venezuela will lose out once the marine fuel sulfur cap goes into force in January. Next we turn our focus to Argentina and Brazil, which can expect to reap the rewards of the IMO’s spec change. Beginning in January, the sulfur cap for marine fuels will change from 3.5 […]
Tags: Argentina, brazil, Escalante, IMO 2020, ostra, Vaca Muerta -
Asia-to-ECSA Trade Booms as China Seeks Protection From US Trade War
The Asia to East Coast South America (ECSA) trade is surging – and a major factor is a greater focus by China on boosting its business with this continent. Drivers for this include moves by China to bolster its Belt and Road Initiative (BRI) in ECSA, an upsurge in its demand for Brazilian agricultural products […]
Tags: brazil, china, freight, Trade -
An African Swine Fever Bottom
Have we hit bottom? That’s the question many in the global oilseed trade are asking themselves as we inch closer to the end of a tumultuous 2019. In a January 29th blog post, Preparing for the Worst, we suggested early-year offtake trends pointed toward an 82.90 million tonne yearly import figure, while the USDA forecast […]
Tags: brazil, china soybean imports, Soybeans