@kannbwx

U.S. #corn export inspections were not as strong last week as in the previous, but they are still record for the week. One cargo of corn and one of #sorghum were inspected for #China. Half of the #soybeans were for China, but the week's bean total was below average.

Karen Braun@kannbwx

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Feb 16   NOPA crush, Jan. 2021: 184.654 mln bu of #soybeans2nd highest month ever4% above Jan record (2020)

Trade guess 183.087MSoyoil stocks 1.799 bln lbs; 8 month highTrade guess 1.763B

Big jump in oil yield   Meal exports 969kt, +4% YOY

@kannbwx

Analysts see U.S. #corn acres at 92.9 million in 2021, #soybeans at 89.4 million, #wheat at 45.5 million. 

The range on corn guesses is historically narrow for this report, but they are unusually wide for soybeans.

Analysts see 2021/22 ending stocks for U.S. #corn and #soybeans rising from the current year but staying fairly thin compared with other recent years. #Wheat stocks are seen falling to an 8-year low.

USDA places total acres of #corn, #wheat and #soybeans at 227 million, the highest since 2016 and slightly below the trade average of 227.8 million. #Cotton plantings will fall slightly from last year. #Rice, spring & durum wheat area also seen lower.

Replying to 

@kannbwx

My above comments refer to this Reuters brief posted this morning. Someone posed the question and based on the way the answer was worded, it did not imply (to me) that any major changes were imminent. BTW, 35 mbu is roughly 15 Panamax vessels worth of #soybeans.

@kannbwx

USDA already has 20/21 U.S. imports of #soybeans at 35 million bushels, the third most on record (high is 72 mbu in 13/14).

 USDA on a press call this morning said imports may be needed w/ tight stocks, but the comment did not necessarily suggest the 35 mbu needed to increase.

Thanks Mike, I didn’t know our soybean imports were that high.

Am I correct  in thinking most will be used in the East and Southeast ?