@kannbwx

3h

USDA confirms the following sales of U.S. #soybeans to #China:330,000 tonnes (66kt for 21/22, 264kt for 22/23) 204kt for 22/23

@kannbwx·

2h

Reuters reporting that #Indonesia's #palmoil export ban will cover refined, bleached, deodorized (RBD) palm olein but not crude palm oil (CPO). Refinitiv data shows Indonesia's average monthly shipments in 2021 were 620kt for RBD, 100kt for CPO.

reuters.comREFILE- UPDATE 1-Indonesia export ban will not include crude palm oil - sourcesIndonesian government officials told palm oil companies on Monday that an export ban announced late last week would cover shipments of refined, bleached, deodorized (RBD) palm olein but not c

@kannbwx

#Indonesia will ban exports of RBD palm olein (accounts for ~40% of total palm oil product shipments) from midnight on April 28. #PalmOil is Indonesia's top export (ag & non-ag), so any ban could hit the economy.

reuters.comIndonesia may widen palm export ban to combat shortagesIndonesia is prepared to widen its ban on exports of refined palm olein if it faces domestic shortages of derivatives used in the production of cooking oil, according to details presented at a...

From Tuesday:

@kannbwx

18h

USDA confirms the following sales of U.S. #soybeans:132,000 tonnes to #China in 2022/23133,000 tonnes to unknown (78kt in 21/22, 55kt in 22/23)

@kannbwx

U.S. export sales were modest last week, especially for #wheat, which did not meet expectations. #China was the primary buyer of old and new crop #corn & #soybeans (though 121kt of the 165kt old crop beans were switched from unknown). #Cotton & #pork sales were above recent avgs.

@kannbwx

10h

USDA confirms the sale of 1,088,000 tonnes of U.S. #corn to #China  476kt is for delivery in 2021/22, 612kt is for 2022/23.

@kannbwx

Current year sales with some labels for interest. 2020/21 is the orange line right in the middle of the pack. 2015/16 U.S. #wheat exports of 778M bu was the lowest since 1971/72. Forecast as of April 2016 was 775M. 2021/22 forecast is 785M.

@kannbwx

U.S. #wheat export sales for 2022/23 (starts June 1) of 2.3 mmt are closer to average, perhaps slightly above. Philippines is the top buyer followed by unknown destinations then Mexico.

As of April 21, U.S. #wheat export sales for the 2021/22 marketing year were the lowest in more than 20 years at 19.3 mmt or 709 mln bushels. Top buyer #Mexico accounts for 19%.

@kannbwx

It's fair to combine corn/soybeans because they are both equally higher than normal. New crop #corn sales are up 61% YOY and #soybeans up 64%. Separating a little further, China is 65% of the soybeans and 37% of the corn.

Export sales of U.S. #corn & #soybeans for 2022/23 were well ahead of normal (record?) as of April 21 at 14.95 million tonnes or 560 million bushels, up 63% from a year ago. #China accounted for 57% of the corn+soy total, unknown destinations 20%, #Mexico 15%.

@kannbwx

I was wondering whether #China's sudden entrance to the U.S. #corn market in 2020 increased the running portion of export sales to unknown buyers. Answer? Maybe for a couple months there in 2020/21, but overall not really, not this year. Most of China's bookings are known.

@kannbwx

#Indonesia's #palmoil exports cover 35% of major global vegoil trade. If those vanished entirely, that would be like:Removing North & South America from #wheat exportsRemoving USA & Argentina #soybeans from oilseed exportsRemoving North America from feed grain exports

@kannbwx

These countries, including Indonesia, have a lower share of overall production. The highest is North America in feed grain, which is predominantly US corn. But remember, most of the non-exported crops grown globally are already spoken for. That's why we focus on the exporters.

@kannbwx

The president on Wednesday reiterated the "people before exports" stance, which likely factored into the decision to widen the ban.

The ban is wider. #Indonesia on Wednesday said its #palmoil export ban will cover crude palm oil, refined palm oil and used cooking oil, among other palm products. That's a reversal of its prior claim that it would only cover refined products.