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exports+more 7-31-23

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Started by metmike - July 31, 2023, 5:25 p.m.

Last week's U.S. export inspections were at the high end of expectations (above on #wheat). No #corn or #soybeans were inspected for China but 2 wheat cargoes and 1 sorghum were. Wheat insp. YOY went from -17% last week to -5% this week.

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Re: exports+more 7-31-23

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By metmike - July 31, 2023, 5:26 p.m.

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Karen Braun @kannbwx

Lots of vessels waiting outside of #Brazil's Paranagua Port on Monday.

Re: Re: exports+more 7-31-23

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By metmike - July 31, 2023, 5:29 p.m.

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Karen Braun @kannbwx

July 31: CBOT Dec #corn takes a significant dive (17.25 cents; 3.2%) on an improved U.S. weather outlook. Monday's settle of $5.13/bu is 59.25 cents (10%) off last Monday's high, which had been motivated by both poor U.S. weather and port strikes in Ukraine.

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November #soybeans plunged 50.75 cents (3.7%) on Monday. A wetter forecast for US beans is exactly what they need, and also end-of-month positioning could be considered here. Monday's settle of $13.31-3/4 per bu is $1.03 (7.2%) off last Monday's high.

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Same story for CBOT #wheat: futures fell 38.5 cents (5.5%) Monday - pulling back from the war-induced rally that started two weeks ago. Almost all of the recent premium added over the Russia/Ukraine conflict has now been removed.

Re: Re: Re: exports+more 7-31-23

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By metmike - Aug. 2, 2023, 1:50 p.m.

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Karen Braun @kannbwx

#Ukraine exported 40% less grain in July versus June due to #Russia's departure from the grain deal and the slower activity leading up to it. Ukraine's vegoil exports (mostly sunflower oil) were 7% higher in July vs June.

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