Beautiful Ascending Wedge ALSO In Novie Soybeans...

10.00 Handle Could Be Seen Shortly With Funds Trying To Grasp

Any Offers Out There To Cover Their Shorts... Really No Reason For Anybody To Hedge

Either With These Low Prices AND A Trump Safety Net Setting A

Price Floor Which Has Already Been Seen...

Big report Friday 12:00 PM ET. World Agricultural Supply & Demand Estimates (WASDE)

Yes Sir.... Gonna Be YUGE Report...

WEEKLY USDA EXPORTS

   Export Sales Highlights

This summary is based on reports from exporters for the period July 27- August 2, 2018.

Wheat:Net sales of 317,100 MT for 2018/2019 were down 17 percent from the previous week, but up 5 percent from the prior 4-week average.Increases were reported for Japan (76,500 MT, including decreases of 1,100 MT), Indonesia (70,000 MT, switched from unknown destinations), the Philippines (59,000 MT, including 28,000 MT switched from unknown destinations and decreases of 4,000 MT), Chile (52,400 MT, including 37,500 MT switched from unknown destinations and decreases of 100 MT).Reductions were reported for unknown destinations (156,500 MT) and Honduras (300 MT).Exports of 344,900 MT were down 11 percent from the previous week and 9 percent from the prior 4-week average.The destinations were primarily to the Philippines (55,000 MT), Guatemala (49,300 MT), Mexico (46,100 MT), Taiwan (43,300 MT), and Chile (37,400 MT).

Corn:Net sales of 554,500 MT for 2017/2018 were up 90 percent from the previous week and 33 percent from the prior 4-week average.Increases were reported for Mexico (151,100 MT, including 26,000 MT switched from unknown destinations and decreases of 11,800 MT), South Korea (138,200 MT, including 133,000 MT switched from unknown destinations and decreases of 1,000 MT), Japan (93,000 MT, including 94,000 MT switched from unknown destinations and decreases of 9,600 MT), Peru (65,600 MT, including 32,000 MT switched from unknown destinations), and Colombia (60,100 MT, including 65,000 MT switched from unknown destinations and decreases of 30,000 MT).Reductions were primarily for Spain (106,200 MT) and unknown destinations (51,500 MT).For 2018/2019, net sales of 657,700 MT were reported for unknown destinations (299,100 MT), Japan (85,000 MT), Mexico (73,500 MT), and South Korea (67,000 MT).Exports of 1,428,800 MT were down 12 percent from the previous week, but up 2 percent from the prior 4-week average.The destinations were primarily to Japan (436,200 MT), Mexico (348,000 MT), South Korea (198,200 MT), Colombia (67,600 MT), and Peru (64,200 MT).

Optional Origin Sales:For 2017/2018, options were exercised to export 70,000 MT to South Korea from the United States.  For 2018/2019, new optional origin sales were reported for Vietnam (130,000 MT), South Korea (69,000 MT), and unknown destinations (58,000 MT).The current outstanding balance of 720,000 MT is for South Korea (412,000 MT), Vietnam (130,000 MT), unknown destinations (108,000 MT), and Saudi Arabia (70,000 MT).

Barley:Net sales of 200 MT for 2017/2018 were reported for the Philippines.Exports of 1,400 MT were to Japan (1,300 MT) and South Korea (100 MT).

Sorghum:Net sales of 900 MT for 2017/2018 were primarily for Japan.Exports of 10,900 MT were primarily to Japan.

Rice:Net sales of 58,300 MT were reported for 2018/2019, which began August 1.Increases were reported for Mexico (20,600 MT), Haiti (15,300 MT), Saudi Arabia (8,100 MT), Guatemala (8,000 MT), and Panama (5,100 MT).Reductions were reported for Colombia (200 MT) and Taiwan (100 MT).A total of 194,300 MT in sales were outstanding on July 31 and carried over to 2018/2019.Accumulated exports in 2017/2018 totaled 2,817,700 MT down 20 percent from the prior year’s total of 3,519,600 MT.Exports for 2017/2018 totaled 39,100 MT and were primarily to Japan (15,600 MT), Honduras (10,900 MT), Costa Rica (5,900 MT), and Mexico (1,700 MT).

Exports for Own Account:The current exports for own account outstanding balance is 100 MT, all Canada, and is carried over to 2018/2019.

Soybeans:Net sales of 421,800 MT for 2017/2018 were up noticeably from the previous week and from the prior 4-week average.Increases were reported for the Netherlands (165,300 MT, including 142,000 MT switched from unknown destinations), Egypt (111,500 MT, including 55,000 MT switched from unknown destinations), Spain (96,800 MT, including 95,000 MT switched from unknown destinations), Indonesia (80,200 MT, including decreases of 300 MT), and South Korea (72,500 MT).Reductions were for unknown destinations (543,500 MT) and China (74,400 MT).For 2018/2019, net sales of 532,500 MT were reported for Pakistan (123,500 MT), unknown destinations (88,200 MT), Egypt (80,000 MT), and Switzerland (60,000 MT).Exports of 1,014,600 MT were up 19 percent from the previous week and 44 percent from the prior 4-week average.The destinations included the Netherlands (165,300 MT), Spain (96,800 MT), Vietnam (75,800 MT), South Korea (72,500 MT), and China (67,200 MT).

Optional Origin Sales:For 2017/2018, the current optional origin outstanding balance of 66,000 MT is for unknown destinations.For 2018/2019, the current outstanding balance of 63,000 MT is for unknown destinations.

Export for Own Account:The current exports for own account outstanding balance is 130,900 MT, all Canada.

Soybean Cake and Meal:Net sales of 109,600 MT for 2017/2018 were up 39 percent from the previous week and 6 percent from the prior 4-week average.Increases were reported for Italy (85,100 MT, including 40,000 MT switched from unknown destinations and 39,600 MT switched from Spain), Colombia (35,500 MT, including 10,000 MT switched from unknown destinations), the Dominican Republic (24,900 MT), the Philippines (17,800 MT), and Canada (11,600 MT, including decreases of 100 MT).Reductions were reported for Spain (39,600 MT), unknown destinations (36,000 MT), and Mexico (17,100 MT).For 2018/2019, net sales of 19,900 MT were primarily for Panama (13,500 MT), the Dominican Republic (3,200 MT), and the Philippines (2,000 MT).Exports of 255,600 MT were up 3 percent from the previous week and 7 percent from the prior 4-week average.The primary destinations were Italy (85,100 MT), Mexico (45,900 MT), the Dominican Republic (20,200 MT), Canada (15,700 MT), and Indonesia (14,000 MT).

Soybean Oil:Net sales of 10,900 MT for 2017/2018 were down 23 percent from the previous week and 9 percent from the prior 4-week average.Increases were primarily for Peru (5,900 MT), Jamaica (3,500 MT), Mexico (2,700 MT, including decreases of 100 MT), and Colombia (2,300 MT, including decreases of 200 MT).Reductions were reported for South Korea (6,000 MT).Exports of 22,200 MT were up 21 percent from the previous week and from the prior 4-week average.The primary destinations were Peru (18,400 MT), and Mexico (3,500 MT).

Cotton:Net sales for 2018/2019, which began August 1, totaled 176,600 RB.Increases reported for Vietnam (93,800 RB, including 30,900 RB switched from China and decreases of 8,200 RB), Thailand (24,500 RB, including 100 RB switched from Japan), China (12,200 RB, including decreases of 7,900 RB), Turkey (12,100 RB), and Bangladesh (8,800 RB), were partially offset by reductions for Colombia (4,500 RB).A total of 1,527,700 RB in sales were carried over from the 2017/2018 marketing year, which ended July 31.Exports for the period ending July 31 of 272,800 RB brought accumulated exports to 14,830,600 RB, up 7 percent from the prior years’ total of 13,823,100 RB.The primary destinations were Vietnam (78,100 RB), China (50,200 RB), Turkey (36,200 RB), Indonesia (28,100 RB), and Bangladesh (15,500 RB).Exports for August 1-2 totaled 43,100 RB, with Vietnam (12,000 RB), Mexico (6,900 RB), Indonesia (4,800 RB), Turkey (4,700 RB), and South Korea (4,700 RB) being the primary destinations.Net sales of Pima for 2018/2019 totaled 17,700 RB.Increases were reported for India (17,600 RB) and Japan (100 RB).A total of 37,000 RB in sales were carried over from the 2017/2018 marketing year, which ended July 31.Exports for the period ending July 31 of 3,300 RB brought accumulated exports to 611,400 RB, up 4 percent from the prior years’ total of 590,500 RB.The destinations were India (1,900 RB), China (800 RB), and Indonesia (300 RB).Exports for August 1-2 totaled 5,700 RB, with Turkey (2,500 RB) and India (1,700 RB) being the primary destinations.

Optional Origin Sales:For 2018/2019, optional origin sales of 4,400 RB were carried over from the 2017/2018 marketing year, which ended July 31.New optional origin sales of 1,800 RB were reported for Vietnam.The current optional origin outstanding balance of 6,200 RB including carryover is for Indonesia (4,400 RB) and Vietnam (1,800 RB).

Exports for Own Account:For 2018/2019, exports for own account total of 13,000 RB were carried over from the 2017/2018 marketing year, which ended July 31.The current outstanding balance including carryover is for Vietnam (6,300 RB), China (6,200 RB), and Bangladesh (500 RB).

Hides and Skins:Net sales of 1,105,300 pieces reported for 2018, all whole cattle hides, were up noticeably from the previous week and from the prior 4-week average.Increases were for South Korea (463,000 pieces, including decreases of 15,600 pieces), China (390,700 pieces, including decreases of 14,800 pieces), Thailand (166,200 pieces, including decreases of 4,600 pieces), Mexico (46,400 pieces), and Japan (8,900 pieces, including decreases of 400 pieces).Exports of 469,200 pieces, all whole cattle hides, were up 36 percent from the previous week and 32 percent from the prior 4-week average.The primary destinations were China (260,300 pieces), South Korea (81,400 pieces), Thailand (49,700 pieces), Mexico (32,500 pieces), and Japan (9,100 pieces).

Net sales of 182,800 wet blues for 2018 were up noticeably from the previous week and up 71 percent from the prior 4-week average.Increases were reported for Italy (77,600 unsplit and 7,300 grain splits), China (43,200 unsplit), Vietnam (20,800 unsplit), the Dominican Republic (11,900 unsplit), and Thailand (11,900 unsplit).Reductions were reported for Thailand (400 grain splits) and Taiwan (300 unsplit).Exports of 220,000 wet blues for 2018 were up noticeably from the previous week and up 92 percent from the prior 4-week average.The primary destinations were China (73,900 unsplit), Italy (52,500 unsplit and 9,500 grain splits), Vietnam (38,500 unsplit), Thailand (11,600 unsplit and 9,400 grain splits), and Taiwan (8,200 unsplit).Net sales of splits totaling 238,100 pounds for 2018 were down 44 percent from the previous week and 58 percent from the prior 4-week average.The destination was Vietnam.Exports of 575,100 pounds were up 53 percent from the previous week and up noticeably from the prior 4-week average.The destinations were Vietnam (405,100 pounds), South Korea (120,000 pounds), and China (50,000 pounds).

Beef:Net sales of 14,600 MT for 2018 were down 10 percent from the previous week, but up 15 percent from the prior 4-week average.Increases were primarily for Japan (6,100 MT, including decreases of 500 MT), South Korea (2,000 MT, including decreases of 400 MT), Hong Kong (2,000 MT, including decreases of 200 MT), Mexico (1,300 MT, including decreases of 100 MT), and Taiwan (1,000 MT, including decreases of 100 MT).Exports of 18,300 MT were down 2 percent from the previous, but up 3 percent from the prior 4-week average.The primary destinations were Japan (6,700 MT), South Korea (5,200 MT), Taiwan (1,800 MT), Mexico (1,700 MT), and Canada (1,100 MT).

Pork:Net sales of 24,900 MT for 2018 were down 30 percent from the previous week, but up 16 percent from the prior 4-week average.Increases were reported for Mexico (7,800 MT), South Korea (5,600 MT), Hong Kong (3,900 MT), Japan (2,200 MT), and Colombia (1,600 MT).Exports of 13,600 MT were down 36 percent from the previous week and 29 percent from the prior 4-week average.The primary destinations were Mexico (5,100 MT), Japan (2,500 MT), Canada (1,500 MT), Hong Kong (1,000 MT), and South Korea (1,000 MT).

Wonderful, Wonderful, Wonderful!

Thank you for starting this thread!

For the Weather that effects the growing crops, please go here:

https://www.marketforum.com/forum/topic/10210/

Today, we are trading expectations for the HUGE USDA crop report tomorrow morning at 11 am..............though the increase in late week 1 rains is also bearish(for the south and southeast belt).

I'm going to elaborate on that statement. The Northwest parts of the Cornbelt may struggle to get rains and will be drying out.........with some heat.  After the report tomorrow, this could become bullish.

The solid lows are in for corn!

CZ  at 385 is Trading 32c off the lows right now and 46c off the late May highs. Charts below are for the front month Sept.

Corn historical perspective:

Who remembers $8 corn not so long(5 years) ago   

3 month below September(front month) 

1 year below

5 year below                                      10 year below

Lows are in for beans! 

 August is pod filling for beans and critical for determining yields. Crop ratings dropped and rains this week were less than expected..............but rains are increasing again and we have the huge crop report coming up.

SX is 71c+ off the lows(which were 10 year lows), still almost $1.54 off the late May highs. Charts below are for the front month, Sept.

Soybeans: Wider perspective: Currently just above the 10 year lows !!!!!

Soybeans 3 months below......bottom in. 

Soybeans 1 year chart below   

Soybeans 5 years below

Soybeans10years-Wow, look at that high from the drought of 2012...and demand, currently, we just bounced off of 10 year lows!