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JBS States Brazil Reached China Beef Export Quota on May 13; Corn Prices Expected to Rise

GateNews
Commodities

According to Jin10 Futures, JBS executives stated on May 13 that Brazil reached its beef export quota to China, which may lead to price declines benefiting domestic market sales. Additionally, Mexico's reopening of cattle ranching at the border could ease U.S. beef supply pressure in the near term.

On global corn demand, JBS forecasted strong demand with corn prices expected to rise due to weather and fertilizer cost pressures. The company stated it is well-positioned to manage commodity price volatility and prepared for potential reduced output in Brazil's second corn crop.

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