Victor Martins

Day 127 | “No one tells you running is 10 percent cardio and 90 percent negotiating with the voice begging you to quit." -David Dack

Brazilian agribusiness can do five things no other country on Earth can replicate. The first: two harvests on the same land in the same year. About 40% of Brazil's soybean fields are immediately replanted with corn after the soy harvest. In Mato Grosso, irrigated farms are now growing three crops per year on the same hectare. The second: eucalyptus that matures in 6 to 7 years. Pine in the U.S. South takes 22 to 40 years. Pine in Canada and Scandinavia takes 60 to 100 years. The third: cattle finished primarily on grass. About 78% of Brazilian beef still comes from grazing systems. In the United States, almost all beef cattle pass through feedlots in their final phase. The fourth: sugarcane that produces both sugar and ethanol on the same crushing run. Brazilian flex plants switch the output ratio between sugar and ethanol based on which price is higher. The fifth: coffee, soy, beef, cellulose, and orange juice all grown on the same continental landmass. Brazil is the world's largest producer or exporter in every single one of those categories. Brazil functions as an agricultural civilization. Climate, soil, and decades of breeding research at Embrapa built it. Three structural advantages no other country can replicate. The world's quiet bread basket is operating at a scale most investors have never measured.

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Those odds will drive soybeans price action next week. Fat war premium prices across the curve!! Take care

*TRUMP SAYS COULD DELAY SUMMIT WITH CHINA’S XI: FT