Grain Express 05/12/22
Posted: May 12, 2022, 8:09 a.m.
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Corn (July)
Fundamentals: This morning’s weekly export sales report showed net sales of 192,700 MT for 2021/2022--a marketing-year low--were down 75 percent from the previous week and 80 percent from the prior 4-week average. Net sales of 46,600 MT for 2022/2023.
Today’s USDA report will be out at 11:00 AM CT. Below are the estimates.
2021/2022 U.S. Ending Stocks: 1.412 Billion Bushels
2022/2023 U.S. Ending Stocks: 1.352 Billion Bushels
2021/2022 World Ending Stocks: 303.76 mmt
2022/2023 World Ending Stocks: 296.91 mmt
Argentina Corn Production: 52.03 mmt
Brazilian Corn Production: 114.12 mmt
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Soybeans (July)
Fundamentals:
This morning’s weekly export sales report showed net sales of 143,700 MT for 2021/2022--a marketing-year low--were down 80 percent from the previous week and 74 percent from the prior 4-week average. Net sales of 77,300 MT for 2022/2023.
Today’s USDA report will be out at 11:00 AM CT. Below are the estimates.
2021/2022 U.S. Ending Stocks: .225 Billion Bushels
2022/2023 U.S. Ending Stocks: .317Billion Bushels
2021/2022 World Ending Stocks: 88.98 mmt
2022/2023 World Ending Stocks: 97.23 mmt
Argentina Soybean Production: 42.76 mmt
Brazilian Soybean Production: 124.4 mmt
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Wheat (July)
Fundamentals: This morning’s weekly export sales report showed Net sales of 14,100 metric tons (MT) for 2021/2022--a marketing-year low--were down 88 percent from the previous week and 79 percent from the prior 4-week average. Net sales of 124,300 MT for 2022/2023.
Today’s USDA report will be out at 11:00 AM CT. Below are the estimates.
2021/2022 U.S. Ending Stocks: .686 Billion Bushels
2022/2023 U.S. Ending Stocks: .659 Billion Bushels
2021/2022 World Ending Stocks: 278.3 mmt
2022/2023 World Ending Stocks: 272.07 mmt
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