@kannbwx

#Ukraine's March grain exports were four times less than in February due to the Russian invasion.

In a normal year, Ukraine would probably be exporting at least 4 mmt in March - which is usually the height of their corn export season. However, the 1.1 mmt for Mar 22 is higher than I expected. Perhaps that was overestimated, not sure.

@kannbwx

4h

USDA confirms the sale of 1,084,000 tonnes of U.S. #corn for delivery to #China. 676kt is for 21/22 and 408kt is for 22/23  Sorry my previous version had an extra "million" in there. By the way, this is China's first substantial U.S. corn purchase since May 2021.

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@kannbwx

3h

#China just made it's largest U.S. #corn purchase since May 2021 In 2020/21, USA shipped 21.5 mmt of corn to China For 2021/22, sales thru March 24 to China = 12.12 mmt, w/ 5.3 mmt left to ship 2022/23 sales = 204kt as of March 24 April 4 flash: 676kt for 21/22, 408kt 22/23

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@kannbwx

3h

In the same week in 2021 (March 25), #China's 20/21 U.S. #corn commitments = 23.2 mmt w/ 14.7 mmt still to ship by Aug. 31. There were NO China bookings yet for 21/22 one year ago. That started (and ended) in May.

@kannbwx

U.S. #corn exports hit a record 6.6 million tonnes in February, topping Feb 2021's high by 5%. One-quarter of those shipments went to #China. That puts first half 2021/22 shipments at 28.5 mmt, similar to other recent, high-export years. USDA's full-year outlook is 63.5 mmt.

@kannbwx

U.S. export sales were mostly as expected last week and included the usual suspects (#China for #soybeans, Japan & Mexico for #corn).

 Old-crop soybean sales on March 31 totaled 56.1 mmt, and USDA's full-year export target (by Aug 31) is 56.9 mmt.

@kannbwx

USA exported $2.93B worth of agricultural goods to #China in February, up 38% YOY but just shy of Feb 2014's high. Half of that was #soybeans & #corn.

 U.S. corn+soy exports to China in Feb were up 32% YOY. Exported cost of U.S. corn to China was up 23% from Feb 2021, soy up 18%.