Grains are higher at midday:
Dec Corn + 10 ½ cents/bu (5.27 ¼ )
Nov Soybeans + 11 ½ cents/bu (12.17 ¾ )
Dec Chi Wheat + 12 cents/bu (7.37 )
Cdn $ -0.00160 (80.69 cents)
WTI Crude Oil +0.72/barrel (82.03)
This morning, the USDA confirmed Flash Export Sales of soybeans as follows (representing a total of 31.4 million bushels):
- 396,000 tonnes to Unknown Destinations
- 326,750 tonnes to Unknown Destinations
- 132,000 tonnes to China
The USDA Weekly Export Sales Report showed decent sales volumes overall, either at the high end of expectations, or in the case of wheat above the highest guess. China bought a total of 640,000 tonnes of soybeans last week, while Mexico bought a total of 790,000 tonnes of corn. Sales data is listed below (in thousands of tonnes):
The National Oilseed Processor Association released their Sept 2021 US soybean crush report this morning, with total crush coming in slightly below the average trade guess. September’s crush was 7.7 million bushels lower than Sept 2020’s total (Sept is the first month of the 2021/22 marketing year), with the USDA actually looking for a 49 million bushel increase in overall soybean crush.