@kannbwx

These tables offer highly relevant context to China's recent import data:

#China is importing much smaller volumes of agricultural goods than a year ago as the slow economy has curbed demand. Through August, 2022 #corn imports were down 21%, #soybeans down 9%, #wheat down 10% and #pork down 64%.

@kannbwx·

Sep 22

Current marketing year U.S. export sales were lousy across the board last week. Total 22/23 #corn sales are about half the year ago levels, #soybeans are a bit above and #wheat just a hair below.

@kannbwx

Sep 22

CBOT futures in October will set the harvest prices for U.S. #corn & #soybeans as they relate to crop insurance. If using Thursday's settles, here's how the table would fill out for 2022: Corn $6.88-1/4 (+17% from Feb) Soy $14.57 (+2% from Feb)

@kannbwx

Sep 23

#Ukraine has started its 2022 #corn harvest with just 0.5% of the sown area threshed so far. The volume could reach 25-27 million tonnes versus 42.1 million last year.

@kannbwx

Sep 23

#France's #corn harvest is 26% complete as of Friday. Production may end up the lowest since 1990 after a very dry and hot summer hurt crops. Crop conditions have recently been the worst in records back to 2011.

@kannbwx

A leading palm oil analyst believes futures could fall to 2,500 ringgit/tonne ($547.29) by 2022's end after topping 7,000 in March. That'd be late 2019-mid 2020 levels. Reasons: improving output, demand destruction, economic slowdowns. Palm closed at 3,733 Friday.

@kannbwx

September exports of #soybeans from #Brazil are seen at below-average levels, but not too far below. Oct-Jan is usually Brazil's slower season as U.S. exports take the spotlight. This will be an interesting dynamic to monitor in the months ahead. Don't forget #Argentina, either.

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@kannbwx

I don't have a similar comparison with last year, but here's a view of around the same date in 2019 and 2020. Sept BR soy exports in those years were fairly normal. These look slightly busier than the current view - which is expected.

@kannbwx

Money managers bought CBOT #corn futures & options for an 8th straight week through Sept. 20, uncommon during U.S. harvest (though it also happened in 2020). Corn futures rose 15% in those 8 weeks. Dec closed at $6.76-3/4 per bu Friday, down 1.7% on the day.

@kannbwx

Sep 23

Money managers' bullish CBOT #soymeal views are easily record for the time of year but below 2018's all-time high. As of Sept. 20, their net long totaled 102,168 fut+opt contracts. Dec meal futures reached contract highs Thurs but settled down 1.3% Fri at $423.30/short ton.