@kannbwx

U.S. export inspections for #corn were a bit below expectations last week, though the gap is still closing on last year's huge anomaly (now down 25%). 

One cargo of #soybeans sailed to #China. Still too early in 20/21 to get a good YOY comparison for #wheat.

@kannbwx

USDA announces the sale of 390,000 tonnes of U.S. #soybeans to #China for delivery in 2020/21. 390,000 tonnes = 14.3 million tonnes

*390,000 tonnes = 14.3 million bushels. Wow Monday really struck me early today! 

1h    Here's a summary of all the daily sales since USDA's last weekly sales report (covered week ended June 4).

 All are #soybeans, all given in tonnes  There is a slight chance the sales announced June 5 were included in the report to the 4th. We can check that on Thursday.

Not surprising to see a record-fast build in #China's port stocks of #soybeans given #Brazil's export pace. From April 20 to June 7, stocks by ~2.9 mmt. That is 50% larger than the prior 7-week high from June 2012. Latest stocks = 6.3 mmt, +18% YOY but -18% from 2018's high.

U.S. NOPA crush, May 2020:169.584 mln bu of #soybeans Record for May (4% above 2018 high)Below avg trade guess (173.071)6th consec month w/ new crush recordSoyoil stocks 1.880 bln lbs (below trade @ 2.068)Oil yield still lower (near 2018 levels)

Export sales:

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