Karen Braun@kannbwx

Export inspections for U.S. #wheat were strong last week. #Corn and #soybeans were lower than in the previous week but within expectations. 

Some 160kt beans inspected for #China. FYI USDA sees 19/20 soy exports down 5.8% YOY and 19/20 corn exports down 14% YOY.

@kannbwx

This seems to be a shockingly bullish surprise(to me at least).....maybe its a 1 time purchase. 

China must either be low on corn or feel prospects for their new crop are poor or/and feel prices are good down here. 

Any other guesses?

USDA has updated its top 10 list for #corn. It's been more than 16 years since the top 10 list was cracked for #wheat, but interesting to note the Dec. 1994 sales to #China (Dec. 20 was the prior daily record sale of corn to China). They were active in wheat at the same time.

@kannbwx

And it's been over a year for #soybeans - but unsurprisingly the top 10 is filled with #China. No one needs as many beans as them. Two of the top 10 soy sales were during the trade war (Feb. 5, 2019 and Dec. 19, 2018).

#China's imports of #soybeans in June hit an all-time monthly record of 11.16 million tonnes - the inevitable outcome of #Brazil's monster shipments. Prior record was 10.1 mmt in July 2017. That puts Jan-June imports at a record 45 mmt, fractionally edging out 2017 & 2018.

This is from yesterday..........old news,

@kannbwx

·

Jul 15

Reuters reporting that #China bought at least 300,000 tonnes (11 mln bu) of U.S. #soybeans on Wednesday for shipment later in the year.

Export SALES

Massive for wheat, poor for beans.

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