Brazil Grains & Oilseeds CEO Says COFCO International Sees Brazil Corn, Soy Crops Recovering In 2024/25 After Unfavorable Weather Events; COFCO's New Santos Port Terminal To Start Operations In First Half Of 2025; Sees Grains Business Growing 'Enormously' In Brazil; Export Capacity To Jump To 14M Tonnes At Santos By 2026 From A Current 4.5M Tonnes
Portfolio Pulse from Benzinga Newsdesk
COFCO International anticipates a recovery in Brazil's corn and soy crops for the 2024/25 season following unfavorable weather events. The company plans to start operations at its new Santos port terminal in the first half of 2025, significantly increasing its export capacity from 4.5 million tonnes to 14 million tonnes by 2026. COFCO sees substantial growth in its grains business in Brazil.
July 02, 2024 | 3:46 pm
News sentiment analysis
Sort by:
Ascending
POSITIVE IMPACT
COFCO International's positive outlook on Brazil's corn and soy crops recovery and increased export capacity could benefit ADM, a major player in the agricultural sector.
ADM, being a significant player in the agricultural sector, could see positive impacts from COFCO's increased export capacity and crop recovery in Brazil, potentially leading to higher revenues.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 50
POSITIVE IMPACT
The anticipated recovery of Brazil's corn crops in 2024/25 and COFCO's increased export capacity could positively impact the CORN ETF, which tracks the performance of corn futures.
The CORN ETF, which tracks corn futures, could benefit from the expected recovery in Brazil's corn crops and COFCO's increased export capacity, potentially leading to higher corn prices.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 60
POSITIVE IMPACT
COFCO's expansion and positive outlook on Brazil's agricultural sector could positively impact the EWZ ETF, which tracks Brazilian equities.
The EWZ ETF, which tracks Brazilian equities, could see positive impacts from COFCO's expansion and optimistic outlook on Brazil's agricultural sector, potentially boosting investor confidence in Brazilian stocks.
CONFIDENCE 85
IMPORTANCE 65
RELEVANCE 70