@kannbwx

USDA confirms the sale of 148,000 tonnes of U.S. #corn for delivery to #Mexico. 103kt is for 2021/22 and 45kt is for 2022/23.

@kannbwx

Preliminary data shows #Brazil exported 43 million tonnes of #soybeans from Jan-May, down about 7% from the prior two years. May exports were 25-30% off the prior 2 years, tho June shipments are seen keeping pace w/ May. Smaller harvest, weaker Chinese demand have been at play.

@kannbwx

#Ukraine's ag minister also thinks the area under winter #wheat for next year's harvest (sowing normally starts in 3-ish months) could fall significantly, making the 2023/24 cycle the third where Ukraine's grain supplies are limited to the world.https://reuters.com/world/europe/russias-war-may-deprive-world-three-ukrainian-wheat-harvests-minister-2022-06-14/#:~:text=KYIV%2C%20June%2014%20(Reuters),Ukraine's%20agriculture%20minister%20told%20Reuters

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reuters.comRussia's war may deprive world of three Ukrainian wheat harvests - ministerRussia's invasion of Ukraine will create a global wheat shortage for at least three seasons by keeping much of the Ukrainian crop from markets, pushing prices to record levels, Ukraine's agriculture...

@kannbwx

#Ukraine says EU countries may provide it with temporary storage facilities for the upcoming grain harvest, much of which cannot reach the export market under current conditions. #Corn storage shortages could reach up to 15 mmt (590 mbu) after harvest per the ministry.

@kannbwx

Biden says he is working closely w/ European countries to get trapped grain out of #Ukraine to help ease global food prices. The plan is to build temporary silos on the  borders and rail grain to EU ports, but Ukraine says it needs its sea ports opened.

reuters.comBiden touts temporary grain silos on Ukraine border to help exportsU.S. President Joe Biden said on Tuesday that temporary silos would be built along the border with Ukraine, including in Poland, in bid to help

@kannbwx

Old-crop U.S. #corn sales last week were a marketing year low and included usual suspects (Mexico, Japan, South Korea). YTD sales of 59.7 mmt is down 14% YOY. #China and Japan bought #soybeans, and the YTD total sales of 60.3 mmt is down 2% YOY.

@kannbwx

NOPA has slightly adjusted its March crush upward to 182.465 mln bu (was 181.759M). That's a +0.4% increase, not huge. The original March number was already record high for the month, so now the record margin is a bit higher. No change to the May numbers in the post.

NOPA U.S. crush, May 2022:171.077 mln bu of #soybeans Record for May; +4.6% from May 2021Trade guess was 171.552 mbuSoyoil stocks 1.774B lbs, lowest since SeptTrade guess 1.765BRecord high oil yield of 12 lbs/bu

@kannbwx

U.S. #corn export sales have been weak lately, but the total volume sold for the new year is above average at 5.9 mmt (46% to #China). That covers about 10% of the full-year export forecast. Last year was an anomaly, driven by huge, early sales to China.

@kannbwx

#China's sow herd at the end of May was 0.4% larger than in April, its first month-on-month increase in a year, but was 4.7% lower than a year ago. Poor margins pared the herd in past year, but prices have risen since. China's pigs are the world's largest consumers of #soybeans.