@kannbwx

Export inspections for U.S. #soybeans were below expectations last week. That included 841kt to #China. #Corn inspections included 275kt to China. Is there a large increase in this soy number coming next week, or was it truly a ~2 month low?

@kannbwx

Mato Grosso is also #1 in #corn production, and sales this month have reached 41%, just above the 40% average but far off 63% last year. Almost all of Mato Grosso's corn is second crop, which is what #Brazil exports most heavily.

@kannbwx

Farmers in #Brazil's top soybean state of Mato Grosso have sold 46% of their #soybeans for 21/22. That is now *below* the five-year average of 49% and well behind 66% a year ago. Sales for this crop year had started out unusually strong in late 2020.

@kannbwx

Insurance guarantees to U.S. farmers in 2021 hit@ a 7yr high for #corn and 8yr high for #soybeans. Harvest price was 9yr hi for corn, 8yr for beans. New-crop corn in 2021 increased more into harvest than soy. Dec 22 corn is averaging $5.51 this month and Nov 22 soy $12.34.

Replying to 

@kannbwx

Average prices of new-crop 2022 contracts during December don't really mean anything, just showing recent averages. However, you can definitely look up the largest changes, plus or minus, of the new-crop contracts from December to February- the month that sets the guarantees.

@kannbwx

#China last week kept its 2021/22 #corn import forecast at 20 mln tonnes, down from a record 29.56M in 2020/21. One year ago their 20/21 forecast was 7M. Dalian corn futures (all months) are a bit above year-ago levels and well above Sep lows. Futures built into Jan last year.

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

@kannbwx

Last week's export sales were headlined by 1.29 mmt #corn to Mexico, and 754kt to MX for 22/23. Canada was the No. 2 corn buyer. #China had 986kt #soybeans (incl. 402kt switched from unknown). The 140kt 22/23 was to unknown. #Wheat sales hit a 21/22 high led by MX, Japan & Peru.

From yesterday:

@kannbwx

NOPA U.S. crush, Nov 2021:

179.462M bu of #soybeansDown 0.9% from Nov '20; 2nd best for NovBelow trade avg of 181.64MSoyoil stocks down frac from Oct to 1.832 bln lbs1st monthly decline since JuneBelow trade guess of 1.903 blnOil yield down, lowest since Feb

@kannbwx

U.S. #ethanol production remained high last week at 1.087M bpd. However, stocks rose to 20.88M barrels, a 15-week high. The 2% weekly jump in stocks is the largest since mid-July.

From this morning:

@kannbwx

USDA confirms the sale of 20,000 tonnes of U.S. soybean oil for delivery to India in 2021/22.