@kannbwx

Export inspections for U.S. #corn remained elevated last week, but those for #soybeans hit a four-year low (if my data hasn't failed me).

 Basically none to #China. The #wheat year rolled over in the middle of the week, so -64% is skewed. Should moderate in coming weeks.

@kannbwx

3m

"Rush hour" traffic of #soybeans from South America to Asia continues. This is June 10 vs. May 11. Official export data suggests #Brazil shipped close to 31 mmt in April-May. That includes 22.2 mmt to #China, some 66% more than the same period a year ago.

Exports sales Thursday morning:

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

@kannbwx

·

3h

USDA announces the sale of 720,000 tonnes of U.S. #soybeans to #China. Some 63k will be delivered in 2019/20, and the rest will ship in 2020/21. 720,000 tonnes of soy = 26.5 million bushels

@kannbwx

The latest weekly report covers the week to June 4, but there were huge flash sales of #soybeans on the 5th (588,000 tonnes total). There's a chance that was included in the report to the 4th. The above calculation assumes that. If they weren't, sales approached 3 mmt.

@kannbwx

·

3h

Either way I think this has to be #China's biggest run of buying U.S. #soybeans since the trade war began 2 years ago. It's either the biggest or extremely close.... I'd need to go back through the data to be sure.

@kannbwx

3h

USDA announces the sale of 120,000 tonnnes of U.S. #soybeans to unknown destinations for delivery in 2020/21.