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
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
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 –
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
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
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
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
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
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
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
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