Tuesday May 20th, 2025

• The markets start the day off in the green.
  • Wheat leads rebounds on reduced U.S crop ratings
• Flash sale of 145,000 mt of soybeal meal was sold to the philippnes for 2024/2025 delviery. 
• Chinese imports of wheat and barley have increasede in April, while corn imports still remain slow. The price for barley in china supports the subsitution of corn in livestock rations. Chinese corn imports are estimated 85% lower than last year, and 88% below the 3 year average. 
• Export inspections
  • Corn inspections came in near the top end of the trade estimates at 67.7mbu. Export pace is now 7% ahead of the USDA’s target. 
  • Soybean inspections were just okay for the week at 8mbu. Shipments are in line with last year, but slightly lower than the 5 year average. 
  • Wheat sales saw 15.6mbu for the week, adding to the strong shipment pace. 
• Crop Progess Report
  • Corn planting at 78% percent complete yesteday, higher than the 73% 5 year average. 
  • Soybean planting at 66% complete, above the 53% five year average. 
  • Winter Wheat ratings saw a slight decline this week, down 2 points to 52% g/e.