@kannbwx

#Soybeans had their best week for export inspections since April, with 137kt headed to #China. Biggest weeks almost always have China involved.

 #Corn and #wheat were below expectations, and for corn it was the 2nd worst week since April (but well above same week last year).

@kannbwx

From a volume perspective, July/Aug #corn exports can be slightly below average to hit USDA target in 19/20. But in past 5 years, July-Aug sales have only been as strong as needed when S. America has a drought. Should be interesting.

metmike: Old news from last week:

#China has booked 4.04 million tonnes of U.S. #soybeans as of June 25 for delivery in 2020/21, the most for the date since 2014. 4.04 million tonnes = 148 million bushels

8:45 AM · Jul 2, 2020··

@kannbwx

Have to keep an eye on sales of #soybeans to non-#China destinations. As of June 25, sales for 2020/21 totaled 2.9 million tonnes (42% of total). That is near average for recent years. Better than last year but not as good as 2018 (which was anomalously high).

Sales not bad in a few categories:

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

Last week, some 1.33 million tonnes of U.S. #soybeans were sold (mostly old-crop, mostly to #China), and that is a pretty big total for the time of year. 1 mln tonnes of #corn was sold (60% old-crop, also good for time of year).

USDA announces the following export sales to #China: 765,000 tonnes of U.S. #corn for delivery in 2019/20600,000 tonnes of corn for 2020/21190,000 tonnes of hard red spring #wheat for 2020/21130,000 tonnes of hard red winter wheat for 2020/21

8:04 AM · Jul 10, 2020·

@kannbwx

·

4h

@kannbwx

For #corn, those sales total 1.365 million tonnes, equivalent to 53.7 million bushels. For #wheat, the total is 320,000 tonnes, equivalent to 11.8 million bushels.

@kannbwx

·

2h

1.365 mmt is #China's second-largest daily U.S. #corn purchase on record behind the 1.45 million tonnes on December 20, 1994.