@kannbwx

 #Turkey, the No. 3-4 global wheat importer, is looking to buy #wheat this week.

@kannbwx

#Russia's #wheat exports have reportedly resumed in the Black Sea, albeit gradually. #Ukraine, slowly exporting by rail, can move a max 20,000 tonnes of grain per day.

@kannbwx

CBOT #wheat futures sharply reversed on this news. Came up more than 50 cents.

@kannbwx

Money managers were net short 7k CBOT #wheat futures & options as of March 1 and they were net long 20,208 as of March 8. Futures surged 31% in that week, and funds' short covering was their largest in two years. Futures shed 14% in the three sessions since.

@kannbwx

Traffic of #soybeans out of South America on Friday versus last year. Should be busier mid-ocean in this year's shot as Feb. departures out of #Brazil were at least twice last Feb. March 2021 exports were record for the month.

@kannbwx

From yesterday:

 U.S. exporters sold 1.66 mmt of #soybeans last week, the lowest old crop+new crop total since mid-Jan, but still above avg. #Corn sales at 2.04 mmt marks a second straight week of well above average bookings.

@kannbwx

But check out new crop sales of U.S. #soybeans.... This shows just #China and unknown, who are usually the majority of new sales at this time. Far above average and reaching 8.1 mmt (298 mln bu) as of March 10.

@kannbwx

53.6 mmt (1.97 bln bu) of U.S. #soybeans have been sold as of March 10 for the 2021/22 marketing year. You can see how the pace really picked up in January, setting this year apart from what had looked like an average year at first.

@kannbwx

#Ukraine's deputy agriculture minister said Thursday that farmers have begun spring grain sowing, though a forecast is not yet possible. Whether Ukraine is able to produce a full/near full corn, sunseed, wheat, etc crop this year has been a top concern for markets/importers.

@kannbwx

·IGC has sharply cut #Ukraine's 21/22 grain export forecast, noting significant uncertainty (as have most analysts at this point).  grain exports: 62.8 mmt last month 47.8 mmt#corn 31.9M  21M#wheat 24.5M  20.8M rain exports: 37.7M  37.1M

I would imagine that trying to do any large scale planting in the Ukraine would be a formidable task.  From getting all the supplies you would need to finding employees to get it in the ground.  Transportation, fuel, etc etc.  ugh

Thanks Jim!

Going to be a challenging growing season in that part of the world!

Exports March 21, 2022

https://www.ams.usda.gov/mnreports/wa_gr101.txt

Thanks Jim!

Big drop for C and S. W plunged last week and stayed down there.

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