1. Industry consulting firm StoneX predicts that Brazil's soybean production for the 2025/26 season will reach 181.6 million tons, an upward revision of approximately 1% from its April estimate. StoneX stated that this upward revision reflects increased crop yield estimates across Brazil and an upward revision of the planted area estimate for Rio Grande do Sul.
2. The Mato Grosso State Agricultural Economics Institute (IMEA) reported that soybean crushing margins in Mato Grosso state for the week ending April 27-May 1 were 667 reais per tonne, compared to 710.29 reais per tonne the previous week. During the same week, soybean meal prices in the state were 1,614.51 reais per tonne, and soybean oil prices were 5,973.58 reais per tonne.
3. Maybank Investment Bank analyst Ong Chee Ting noted in a report that even with some easing tensions in the Middle East, global fertilizer prices are likely to remain high over the next 12 to 24 months due to continued tightness in the global market caused by supply disruptions and export restrictions.
4. According to Mysteel research, a large alumina plant in Guangxi province experienced a sudden shutdown earlier. During the holidays, the plant began trial production, involving a capacity of approximately 1.1 million tons per year. Currently, one production line has temporarily resumed operation.
5. Dominican Republic President Luis Abinader officially signed an executive order on Monday requiring the immediate suspension of all development activities related to the Romero gold and copper project owned by Canada's GoldQuest Mining.
6. An explosion occurred at Glencore's Kazzinc metallurgical plant in Ust-Kamenogorsk, Kazakhstan. Glencore's Kazzinc is Kazakhstan's largest zinc producer, and also produces lead, copper, gold, and silver.
7. Indonesia's statistics bureau and trade data monitoring show that Indonesia's aluminum exports in March more than doubled compared to the previous month, reaching the highest level since November 2023. Indonesia's total exports of unwrought aluminum in March reached 88,554 tons, up from 33,490 tons in February. Amidst a severe aluminum shortage in the Middle East due to the war, Indonesia is expected to significantly increase production this year.
