@kannbwx

China imported 7.17 million tonnes of #soybeans in August, down 24% from last August and the lowest for the month since 2014. This light number was expected as Chinese demand has been sluggish (poor crush margins, lower animal feed production, etc).

@kannbwx

USDA's attache this week said #China will import 96.5 mmt of #soybeans in 2022/23, below USDA's official 98 mmt. That sinking demand - plus the prospects of #Argentina bumping some U.S. biz out of the market - allows more room for a lower U.S. yield, if realized.

@kannbwx

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Sep 6

Export inspections for U.S. #corn, #soybeans & #wheat met expectations last week though were on the lower end. Corn/soy marketing year just started, keep in mind when looking at YOY. Also recall last Sept. was lighter due to hurricane damage at ports.