his week, news and market comments will be released in a reduced mode.
– US crudeoil stocks fell 6.42 million barrels following a decrease of 1.53 million barrels the week before.
– China and unknown cancelled a combined 328,000 metric ton US soybean export sales.
– Ethanol production firmed 14 thousand barrels per day last week following an increase of 18 thousand barrels per day from the week before.
– NOPA US Soybean crush 158.843 mln bu in Aug; Soy oil stocks 1.668bln lbs.
– BAGE expects Argentina to produce a 55 MMT corn crop this spring.
– Argentina’s 2020/21 soybean sales hit 29.4 mln tonnes, corn had reached 39.7 million tonnes.
– Brazil to export 4.8 million mt of soybeans in September, Anac said.
– FranceAgriMer notably reduced the end-of-season wheat stock by 800 kt after cutting the carryover stock as well as the national collection. Exports to third countries were reduced by 900 kt (9.6 Mt), but intra-community exports were increased by 700 kt (8 Mt).
– Euronext COT data shows wheat longs slashed despite quality fears.
– Russian wheat harvest rose in week to Sep 14, now 70.7m.
– Russia to plant less winter wheat for 2022 crop, area could be cut by 0.5-1 mln ha y/y.
– Chinese buyers have agreed to relax a key quality specification for upcoming shipments of French wheat in response to rain damage in France’s harvest.
– China is said to have bought 8 Brazilian soybean cargoes for October along with 2 U.S. PNW on Monday and then another 10 Brazilian cargoes for October and November.
– Agricensus reported China is only 74% covered for October and needs 5 MMT more for November.
– Aussie local markets firmed yesterday, wheat gaining some $4-5/t following the global board rally, and canola bids up $20/t in places.
Internationally
– Jordan makes no purchase in tender for 120,000 tonnes wheat.
– SouthKorea, bought 68,000 t of corn.
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