China to Grow Row Crops in Africa + 188 Corn Yield Talk

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🌍🇨🇳 China Targets Angola for Major Ag Expansion! 🌽🌱

A Chinese state-owned giant, Citic Ltd., is investing $250 million to build massive soybean and corn farms across 247,000 acres in Angola! 🚜 Roughly 60% of production will head to China, with the rest staying local. Angola’s soils are similar to Brazil’s Cerrado, making this a potential ag powerhouse with the right tech and investment. 🤖🌾

📦 TRADE + POLICY

China and the US have agreed on a framework to ease trade tensions... but no final deal yet. Meanwhile, Angola plans more ag deals with China, with an eye on exporting 500,000+ mt of food. Stay tuned for the geopolitics of grain! ⚖️🌐

🌧️📉 MARKETS MOVE ON WEATHER & TRADE

Corn and soybean futures slipped Monday as forecasts called for rain in the Corn Belt, muting concerns about upcoming heat. 🌡️ Wheat dropped too, pressured by Russian exports, but saw support from Bangladesh’s new U.S. wheat deal. See maps and charts below! 📊🗺️

🌽 CROP CONDITIONS STRONG

Corn: 74% good/excellent — best since 2016! 🌟

Soybeans: 68% G/E — well above average but down slightly

Spring Wheat: Ratings fell again 🌾

Winter Wheat: 73% harvested — one of the slowest paces in a decade ⏳

🇧🇷 BRAZIL CORN OUTLOOK IMPROVES

AgRural raised Brazil's corn estimate to 136.3 MMT, citing better yields for the second crop. 🌽 Harvest is 55% done — still behind last year. Brazil’s crop is now seen 170 million bushels larger than USDA's latest figure. 🔼📈

🚫 FERTILIZER SUPPLY RISK?

Potential U.S. secondary sanctions on Russian exports could hit Latin America's fertilizer supply, especially Brazil and Mexico. Both nations are heavily dependent on Russian imports — a major risk to crops like corn and avocados. 🧪⚠️

🚢 EXPORTS: MIXED BAG

Corn: 983k mt — down 25% from last week 📉

Soybeans: 365k mt — up 141% from last week 🔼

Wheat: 732k mt — up 152% YoY 🚀