Decent week for U.S. export inspections for #corn & #soybeans with a month left in 2021/22, incl. 414kt corn to #China and a couple soybean cargoes. #Wheat numbers were lower than in the previous week, and two months in to 2022/23, are 25% below last year.
Preliminary data suggests #Brazil exported 7.5 million tonnes of #soybeans in July, below the 5-year average by 13%, but respectable in a drought year. That would put Jan-July shipments 8.5% below the same period in 2021.
July #corn exports jumped to 4.1 million tonnes as the harvest started coming in. That's above average and is the biggest volume since last August. #Brazil's year-ago crop was very poor w/ unfavorable weather, but higher volumes went out in Apr-Jun amid tight global supplies.
U.S. export sales last week exactly as expected, a bit on the lower end for #wheat and higher end for #soymeal. #Mexico bought new-crop #corn and #China & unknown bought new #soybeans. Old-crop #cotton sales reductions were a marketing year low (year ended July 31).