Thursday September 16, 2021

• China has been making purchases from Brazil due to the delay in shipping out of the U.S. Gulf 
• Strategie Grain cut their estimates for E.U. wheat production for 2021 by 2.4 MMT to 129.1 MMT – still well above 2020’s production 
• Yesterdays NOPA soybean crush numbers came in yesterday at 158.8 million bu – above both last month and average trade estimate
• Weekly export sales came in on the stronger end of expectations for both soybeans and wheat – corn however came in below expected range 
• Russia is expecting lower wheat acres for this coming year as the export tax is expected to last through 2022/23 as well as increasing corn and soybean prices make those crops more attractive to producers 
• Early yield indications coming from the U.S. have been lower than expected for corn