Click here to view the data G-3 soybean shipments to China this past week were 1.38 MMT, down 17% from the previous week’s 1.68 MMT and above last year. G-3 cumulative shipments to China are estimated to be 85.3 MMT. That’s a record and up 465,000 MT (0.5%) from a year ago. It’s also above…
Summary: Brazil shipped 1.14 MMT of soybeans this past week. There were 168,000 MT shipped from Argentina. US export inspections were 278,000 MT. The Brazil ship lineup indicates that 6.65 MMT could be shipped in August. In the August WASDE, the USDA left its projection for Brazil’s local marketing year exports unchanged at 86.5 MMT…
AgResource Farm Marketing Advice for Monday: 1/ No new advice. CBT futures are mixed at midday in modest volume. Neither the bulls or the bears have been able to build any momentum with values chopping back and forth. Paris wheat futures have declined from last week’s high to a lower closer. Algeria’s tender is likely…
Highlight: Neutral ENSO! Still, signs of La Nina for later 2021. Discussion: The Nino SSTA regions are steadily in neutral phase while waters off the northwest coast of South America (Nino12) briefly warmed in late July/early August but cooled last week (Fig. 1). The Nino34 SSTA is used to determine ENSO phase has been cooler…
Highlight: Transitional pattern BUT Northwest ridge will return. Chart of the day: “Warm blob” has strengthened. Discussion: The northeast Pacific Ocean has warmed during mid-summer. The “warm blob’ is now +0.86C and reaching the West Coast of North America. This feature is linked to the high-pressure ridge affecting the Northwest U.S. Medium-range 6-10 Day Forecast…
