Brazil Nuts

Unfortunately there is no goods news to share on Brazils. The general market consensus is that the crop is 50-70% smaller than last year. Factories aren’t selling and we probably don’t expect them to until later in the year. If they do, there will be very little to offer. Most packers are still short and are only focusing on covering current commitments. If product is being offered, it’s at least US$7 Ib FOB.