@kannbwx

2021 U.S. insurance prices (Feb. avg of new-crop futures): #Corn $4.59 (7yr high)

#Soybeans $11.87 (8yr high)

 Spring #wheat $6.53 (8yr high) New-crop prices back on Feb. 1 were $4.48, $11.54 and $6.43, respectively.

@kannbwx

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12h

USDA confirms the sale of 175,000 tonnes of U.S. #corn for delivery to #Japan in 2021/22.  That is the first daily sale since Feb. 12, and there hasn't been one to China since Jan. 29.

Sounds like tomorrows sales report could be pretty dismal.

Yeah, last week was horrible too.

High prices may be killing demand.

The SA crop is right around the corner.

I am not even going to try to  guess on where prices are going though or whether the top is in or not. 

If the US has serious crop problems early in the growing season, prices will go into the stratosphere. 

Export sales...........horrible for corn but expected!

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

Karen Braun@kannbwx

#Corn export sales were very disappointing last week, and that included 1.05 mmt switched from unknown to #China. 

Sales of #soybeans were as expected. China canceled one old crop cargo but bought 198kt new crop. They also canceled a cargo of #sorghum.

@kannbwx

Last week was by far the biggest "unknown reduction" in #corn export sales as 1 mmt was switched to #China. That's because China is the only one buying such large amounts (of anything). 5.85 mmt of sales to unknown remain, and I'm positive that not all of it is to China.

@kannbwx

Export sales of #soybeans for 2021/22 sit at a 7-year high and are progressing at a solid pace. Total sales are 4.86 mmt (179 mln bu) -#China 47%, unknown 40%. I'd guess most of that unknown is China since it is the one most concerned w/ securing supply so far in advance.