Export inspections:

https://www.ams.usda.gov/mnreports/wa_gr101.txt

@kannbwx

23m

#Corn and #wheat inspections (proxy for exports) were as expected last week, but #soybeans fell short. Negligible volume of beans inspected for #China. Total wheat inspections were barely above year ago levels with just 10 days left in 2019/20.

The news below is likely what caused beans to sell of this morning, in spite of bullish weather that has rallied corn/wheat. Actually, beans were leading the way higher earlier this week. 

This evening, this bearish demand from China news continues to hold beans down.

July beans are -4c at the moment.

If the weather stays bullish next week, beans will go higher, along with corn.

@kannbwx

Bloomberg reported yesterday that #China bought more than 10 cargoes of #soybeans out of #Brazil. Certainly suggests that U.S.-China tensions may be at play since U.S. beans are priced more competitively than Brazil (and should remain that way for months).

Also interesting to note that the real has strengthened over the last week or so, but it is still weaker than anything that had been seen prior to April 2020....

Export sales:

https://apps.fas.usda.gov/export-sales/highlite.htm

@kannbwx

39m

Sales of U.S. #corn last week were weak, but #wheat sales were stronger.

 #China bought 192kt old-crop #soybeans & 200kt new-crop. 180kt #sorghum to CN (66kt switched from unknown).

 #Cotton sales to China were 59k RB old-crop, 113k new. Total cotton sales were a 1-mth low.