@kannbwx

U.S. #corn export inspections were above the range of expectations for last week and included 793kt to #China, potentially largest of marketing year so far? 162kt #soybeans were inspected for #China as were 110kt #wheat for #Japan.

@kannbwx 2/24

Here's the announcement. #China currently doesn't import #Brazil's #corn, though ideas the phyto rules could be scrapped have been around a while. The extreme uncertainty around #Ukraine's crop and export potential may have been the motivation Beijing needed to get this done.

From Tuesday:

@kannbwx

#China has signed an agreement with #Brazil to allow imports of  #corn, previously subject to phytosanitary restrictions.  These are Brazil's top customers. Iran, Egypt & Spain in particular overlap with Ukraine, China's usual go-to supplier. Japan and S Korea overlap w/ USA.

++++++++++++++++++++++++++++

@kannbwx

Here's a reminder of where USA, #Ukraine & #Argentina export #corn for comparison. Two USA charts: 1 shows recent buyers and then another shows buyers' shares pre-#China (China started buying US big in 2020). Argy chart is from USDA/FAS. USA+BR+AR+UA = 85% of world corn exports

@kannbwx

#India has restricted #sugar exports for the first time in 6 years to control domestic prices. This follows restrictions on #wheat exports earlier this month. India is the No. 2 sugar producer after Brazil and No. 2-3 in exports. Top sugar importers are China, USA & Indonesia.

@kannbwx

1h

#China's COVID lockdowns have reduced domestic #soyoil demand at a time when #soymeal demand is weak due to poor hog margins. Imports of #soybeans may be impacted, and traders there say China's bean needs are only 30% covered for July and 20% for August.

reuters.comChina's COVID curbs cut soyoil demand, crimp soybean appetitePlunging demand for soyoil in China is expected to cut consumption of the oilseed in the world's biggest user as lockdowns to prevent the

So if world food shortage is very possible

Why is the world not coming to the USA for more grain YOY

Has this come to your community

Was in town today

One person said they went grocery shopping

Was amazed to see empty grocery shelves on both sides of the aisle

We have grown up in a society where:  what ever you wanted was available

tires, automobiles, food, you name it, there was a supply

Today I think it is different

Have you experienced actual shortages of any thing

Fertilizer was a close call this sspring, we are not done with fert application so will see what happens

We are almost covered for our needs

Parts is our biggest problem

Parts and new machinery,

cars and trucks need 4-6 months for delivery and some chips are missing

Why is the world not coming to the USA for more grain YOY

Wayne, Great point.

One reason is the value of the dollar going much higher (that always happens with aggresive interest rate hikes)

This has added a 10% premium to the cost of our products we sell to all the countries we export to.......or made grain 10% cheaper in comparison for the  countries that compete with us. This was just in the last year. 

It's a global market and much of the time, the country with the lowest price, gets the business. 

If other countries run out, then their price will go higher than ours or if the DI drops, it will help to take back that price increase to them from just this factor.

@kannbwx·

2m

Lighter week for U.S. export sales last week. #China cancelled 108kt old-crop #soybeans but unknown bought 284kt new-crop. Old-crop #corn sales were a marketing year low.

Pretty poor numbers, IMO