Grain Express 9/1/22
Posted: Sept. 1, 2022, 8:25 a.m.
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Fundamental Spotlight
Flash Sale Alert: Soybeans
Private exporters reported sales of 396,000 metric tons of soybeans received in the reporting period for delivery to unknown destinations during the 2022/2023 marketing year.
Weekly Export Sales.....?
A troubled roll out of a new weekly export sales reporting system remains unfixed. Daniel Whitley, the USDA Foreign Agricultural Service Administrator issued the following statement regarding weekly export sales:
"As a result of unanticipated difficulties with the launch of the new Export Sales Reporting and Maintenance System, USDA’s Foreign Agricultural Service will temporarily revert to the legacy system while we work to fully resolve the issues with the new system. FAS will be unable to publish weekly export sales data on Thursday, Sept. 1 or Thursday, Sept. 8, but we expect to resume regular reporting on Thursday, Sept. 15."
Taiwan Strait
Taiwan defense ministry detected 53 Chinese aircraft and eight Chinese ships around Taiwan on Thursday. This has been a common occurrence over the last several months and it doesn't seem that these headlines will be going away anytime soon.
Outside Markets
Outside markets (equities/oil/gold/etc) continue to be in a risk-off mode which may be affecting money-flow in the commodity/agricultural space. The U.S. Dollar is also higher this morning, threating to make new highs yet again.
Technical Snapshot
CORN
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SOYBEANS
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WHEAT
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