Friday May 24, 2024

  • Corn planting in Ontario¬†is estimated at 50-70% complete and soybeans are 0-30%
  • US corn export sales increased last week
    • Net corn sales up 23% from the previous week but down 1% from the prior 4 week average
    • Mexico was the largest corn buyer for the week
  • Soybean sales were soft last week
    • Sales up 5% from the previous week, down 15% from the prior 4 week average
    • Japan was the largest buyer for the week
  • Wheat sales down 77% from the previous week and down 61% from the prior 4 week average
    • Haiti was the largest wheat buyer
  • International Grain Council (IGC) reduced its estimate for global wheat production by 3MMT
    • Russia’s crop reduced by 5.4%
    • Ukraine’s crop reduced by 3.3%
  • Argentina has started to capture some Chinese bean purchases now that new crop supplies are available¬†