The September International Trade report showed total US soybean exports in July at 34.8 Mil Bu. The figure was 48 Mil Bu less than a year ago, but 4 Mil Bu more than the monthly FGIS Inspections report. Based on the weekly FGIS Inspections data, AgResource estimates that total August soybean exports are 48 Mil…
Stats Canada’s August estimate for Canadian canola production was in line with trade estimates, but 8% below the USDA’s August estimate. The USDA is expected to follow Stats Canada’s guidance in the September WASDE estimates, which implies further contraction in the global canola balance sheet. The chart plots global canola production, excluding China. On average,…
Stats Canada’s confirmation of reduced Canadian wheat production by itself will have a meaningful impact on the exporter wheat balance sheet in 21/22. That this year’s North American yield loss has centered on the US Northern Plains and Canadian Prairies will have a significant impact on high protein supply availability and price. Combined US and…
Stats Canada pegged major crop production at or just slightly above previous trade expectations. The lack of bullish surprises along with uncertainty over pace of near-term US export loadings allowed liquidation to dominate price action in Chicago. However, the structure of the North American grain and oilseed markets is one of declining – not expanding…
US wheat futures have recovered from early-week weakness as it’s clear that breaks only serve to encourage fresh end user buying. Northern Hemisphere supplies are being solidified, and for the most part wheat’s supply issue cannot be solved until next year’s harvest. The market’s focus turns to the rate of global consumption and trade –…
