Not so great.
#China bought at least 120,000 tonnes of U.S. #soybeans and at least 120,000 tonnes of U.S. HRW #wheat this week, according to traders. The U.S. wheat purchase is the first of the HRW variety since late 2017. The soybean purchase is the largest in 6-7 weeks.
Unknown is likely to be #China too after yesterday's report that they bought 2 cargoes of #soybeans. However, the sales to unknown earlier last week were likely not to China (yesterday's export sales would support that).
annbwxUSDA announces the following sales to #China:756,000 tonnes of #corn for delivery in 2019/20340,000 tonnes of hard red winter #wheat for delivery in 2020/21 Also announced to unknown:110,000 tonnes of #soybeans for delivery in 2019/20
8:07 AM · Mar 20, 2020
Finally, a year-on-year comparison. This map shows all vessels carrying #soybeans today vs. one year ago, many of them traveling to #China. #Brazil soy exports were 57% YOY in Jan and 3% YOY in Feb, but March is on a record pace. Some 4.3 mmt shipped thru 10 of 22 days.
For all of you Eikon users, no, there is not a new function allowing you to map old dates. I have literally waited one year for this day :)
Export sales this morning were massive!
U.S. export sales last week surpassed expectations.#Corn sales incl. 756kt to #China, Japan 333kt, Mexico 219kt. #Wheat incl. 200kt to China, 146kt to South Korea, 144kt to Japan. #Soybeans incl. 199kt to China and 406kt to unknown. 121kt #sorghum and 9.5kt #pork to China.