@kannbwx

U.S. export inspections were within expectations last week, incl. 403kt #corn & 301kt #soybeans to #China.

 Corn was at the lower end of the range while #wheat and beans were toward the upper.

From Tuesday morning:

Karen Braun@kannbwx

USDA confirms the sale of 123,650 tonnes of U.S. #soybeans for delivery to unknown destinations in 2021/22.

@kannbwx

Export sales of new-crop U.S. #soybeans last week topped expectations and incl. 1.02 mmt to either #China or unknown. 

#Corn sales overall were disappointing, as were old-crop #wheat. China bought 675kt old-crop corn and 340kt new-crop. #Pork sales were a marketing year low.

@kannbwx

Old-crop #corn sales are far above avg, but year ago was record. 

Same for #soybeans. 

Old-crop #wheat sales are more than a 20-year low for the date.

 It's also not terribly unusual to have no new-crop #sorghum sold by mid-April. Old-crop #soyoil sales are below avg, so was last yr

@kannbwx

How do total old & new crop U.S. export sales compare with year ago levels? Old crop: #Soymeal is the only one up YOY, #soybeans down less than #corn & #wheat New crop: Corn, soy, soymeal & #cotton sales well above last year