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Veteran Advisor

Floor Talk, February 21, 2020

At 8am:

USDA's Weekly Export Sales

Corn= 1.25 million metric tons vs. the trade's expectations of  700,000-1.25 mmt.

Soybeans= 497,700 mt. vs. the trade's expectations of 700,000-1.2mmt. 

Wheat=  406,400 mt. vs. the trade's expectations of 450,000-700,000 mt.

Soymeal= 169,400 mt. vs. the trade's expectations of  200,000-400,000 mt.

 

Soybeans:  Net sales of 494,300 MT for 2019/2020 were down 23 percent from the previous week and 22 percent from the prior 4-week average. Increases primarily for Indonesia (91,300 MT, including 55,000 MT switched from unknown destinations and decreases of 3,500 MT), Japan (89,800 MT, including 36,000 MT switched from unknown destinations and decreases of 2,100 MT), the Netherlands (82,400 MT, including 80,000 MT switched from unknown destinations), Mexico (79,700 MT, including decreases of 1,200 MT), and Israel (41,200 MT), were offset by reductions for Nepal (100 MT).

For 2020/2021, total net sales of 3,400 MT were for Japan. Exports of 957,800 MT were up 57 percent from the previous week, but down 10 percent from the prior 4-week average. The destinations were primarily to China (269,500 MT), Mexico (139,900 MT), Japan (104,600 MT), the Netherlands (82,400 MT), and Indonesia (82,000 MT).

Mike

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Honored Advisor

Re: Floor Talk, February 21, 2020

Thanks mike,

All information and very little opinion ........... appreciated

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