These tables offer highly relevant context to China's recent import data:
#China is importing much smaller volumes of agricultural goods than a year ago as the slow economy has curbed demand. Through August, 2022 #corn imports were down 21%, #soybeans down 9%, #wheat down 10% and #pork down 64%.
A leading palm oil analyst believes futures could fall to 2,500 ringgit/tonne ($547.29) by 2022's end after topping 7,000 in March. That'd be late 2019-mid 2020 levels. Reasons: improving output, demand destruction, economic slowdowns. Palm closed at 3,733 Friday.
September exports of #soybeans from #Brazil are seen at below-average levels, but not too far below. Oct-Jan is usually Brazil's slower season as U.S. exports take the spotlight. This will be an interesting dynamic to monitor in the months ahead. Don't forget #Argentina, either.
I don't have a similar comparison with last year, but here's a view of around the same date in 2019 and 2020. Sept BR soy exports in those years were fairly normal. These look slightly busier than the current view - which is expected.
Money managers bought CBOT #corn futures & options for an 8th straight week through Sept. 20, uncommon during U.S. harvest (though it also happened in 2020). Corn futures rose 15% in those 8 weeks. Dec closed at $6.76-3/4 per bu Friday, down 1.7% on the day.
Money managers' bullish CBOT #soymeal views are easily record for the time of year but below 2018's all-time high. As of Sept. 20, their net long totaled 102,168 fut+opt contracts. Dec meal futures reached contract highs Thurs but settled down 1.3% Fri at $423.30/short ton.