Karen Braun@kannbwx

U.S. #corn inspections last week were on the low end of the range of expectations, but the actual volume is well above normal for the time of year. Some 549kt of corn were inspected for #China.

Export sales:

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

@kannbwx

Pretty quiet week for U.S. export sales last week. Japan cancelled old-crop #corn, Costa Rica rolled to new-crop and Mexico bought new crop. 

615kt of corn shipped to #China last week. China cancelled 43kt new-crop #soybeans. Soy exports of 148kt were a MY low.

Karen Braun@kannbwx

However, sales to #China have stalled in the last 2 months. They have 3.05 mmt on the books and cancelled 43kt in the latest week, not quite a full cargo. Before last year, China usually didn't ramp up purchases of new #soybeans until July/August.

Last June was an unusually early start for #China and many of the bookings were announced in USDA daily sales. In June 2020, some 2.1 mmt of new-crop U.S. #soybeans were flashed to China or unknown. That compares with 1.25 mmt in June 2016.

@kannbwx

Through June 10, export sales of new-crop U.S. #soybeans remained on an above-average pace with 7.56 million tonnes (278 million bushels). #China accounts for 40%, unknown 37%, #Mexico 7%.