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