Markets cool following stocks report

[CRM AgriCommodities]

​ ​ ​ Markets cool following stocks report Global grain and oilseed markets have calmed today following yesterday’s USDA reduced stocks related market support. Read the blog here and while the data is important, scepticism is still needed. Wheat / Barley Weekly US net export sales of 506.3KT for 2020/2021 were up 44% from the previous week and 15% from the prior 4-week average. Exports of 646.1KT were up 38% from the previous week and 15% from the prior 4-week average. Two more cases of African swine fever (ASF) have been confirmed in wild boars in the eastern German state of Brandenburg. China and a series of other buyers banned imports of German pork in September after the first case was confirmed. Corn / Maize Following yesterday’s stock support, Chicago corn prices have been given a degree of further support from cold weather that’s moved into the western Corn Belt. Freeze warnings have been issued in parts of Nebraska and Minnesota, while a frost advisory will be in effect for a large chunk of the Midwest. Weekly US net export sales of 2.027 MT for 2020/2021 were primarily for unknown destinations, although exports of 750.2KT were primarily to China (269.9KT). Oilseeds & Oil Following the stock report, US soybeans have failed to push significantly higher today with a lack of fresh daily sales to china. Weekly net export sales of 2.591MT for 2020/2021 were primarily for China 1.329MT, with weekly exports of 1.140MT primarily to China (894KT). ​ Click here for a Graintab Trial​ ​ ​ ​ ​