@kannbwx

2h

USDA confirms the sale of 334,000 tonnes of U.S. #corn to unknown destinations for delivery in 2020/21.

@kannbwx

From Jan-Oct, #China imported 7.8 mmt of #corn, 6.7 mmt of #wheat, and 83.2 mmt of #soybeans. For beans, that is up 8% on 2017's record. #Sorghum imports were down sharply in the prior two years, so this total is likely more comparable with those from a few years ago.

Export sales this week will be released on Friday because of Thanksgiving.

Export sales: 

Huge for wheat and corn!

https://apps.fas.usda.gov/export-sales/highlite.htm

@kannbwx

Huge export sales of U.S. #wheat last week - 796kt, #China had 333kt and #Japan 110kt. 

Sales of #soybeans for 20/21 were a 19-week low, China had 579kt.

 #Corn sales were above expectations - #Mexico bought 555kt and unknown 524kt. China bought 301kt #sorghum, the most in 3 wks.

I have been picking up some rumors that china wants to cancel Jan/Feb deliveries due to high prices and low crush margins

How the sellers and buyers handle cancelled sales, is above my pay scale

However, it would makes sense the cancellations are due to higher prices, and china would buy only minimum supplies

I suppose we will have to wait to find out

Thanks Wayne!

It's a good time to be a producer. 

Getting fairly compensated for the work and high risk you take every year.

I'm not sure where prices are headed right now. The weather looks like it could improve in the week 2 part of the forecast with widespread rains in most of South America then.

If that happens and SA sees good weather the rest of their growing season there will be a big crop to sell.................but apparently, these lofty prices have helped motivate farmers down there to sell more of their crop this early than ever before in history. So not as much selling pressure from that element coming up. 

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

Agroconsult estimates Mato Grosso will have 4.5 mmt of #soybeans ready by January 31 vs 10.9 mmt a year ago. #Brazil's crop is seen at a record 133.2 mmt, but the planting delays will push the availability back a bit. Almost 2/3 of MT's beans were sold by early November.

Brazils beans will be late hitting the market this year because of the drought and planting delays in Oct/Nov.