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