Mystery Corn Cargo Sparks Rumors Brazil is Buying U.S. Grain
As much as 700,000 tonnes of U.S. corn could get shipped to Brazil over the next few months
The grains market is abuzz with speculation that drought-hit Brazil has bought its first major cargo of U.S. corn in two decades, as the world's third-largest corn grower scrambles to secure feedstock with no sign of the supply crisis easing.
The talk comes after Brazil, Latin America's largest economy, last week scrapped import taxes on corn from countries outside the Mercosur trade bloc, its latest effort to curb record domestic prices and boost supplies. To read more click here.