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Grain Express 8/4/22

Posted: Aug. 4, 2022, 8:11 a.m.

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Fundamental Snapshot

Weekly Export Sales

Corn: Net sales of 57,900 MT for 2021/2022 were down 62 percent from the previous week, but up 31 percent from the prior 4-week average. Net sales of 256,700 MT were reported for 2022/2023.

Soybeans: Net sales reductions of 11,000 MT for 2021/2022 were down 81 percent from the previous week and 90 percent from the prior 4-week average. Net sales of 410,600 MT were reported for 2022/2023.

Wheat: Net sales of 249,900 metric tons (MT) for 2022/2023 were down 39 percent from the previous week and 55 percent from the prior 4-week average.

Ukraine Production

Ukraine’s Prime Minister said on Wednesday that their harvest could be in the ballpark of 65-67 million tonnes. This would be a decline of roughly 20% from the previous year, which all things considered doesn’t sound too bad.

Ukraine Exports

There are 17 more vessels ready to leave ports in Ukraine, but there has not been a timeline established for departures. Those involved with the export deal have noted that it may take a few weeks for things to start picking up.

The Technical Landscape

Corn (September)

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Soybeans (September)

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Wheat (September)

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