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“AgRural reports Brazil’s first crop harvest has reached 50% while second crop plantings are at 91%. Export inspections at 65 mil. bu. were in line with expectations and just above the 63 mil. bu. needed to reach the USDA forecast. YTD inspections at 1.688 bil. are up 39% YOY vs. the USDA forecast of up 15.5%. Noted buyers were Mexico – 17 mil., Japan – 11 mil. while Colombia, South Korea and Spain all took 5-7 mil. bu. each,” Mark Soderberg of ADM Investor Services said.
