Exports: So. Korea buys 55,000t food corn.
Comments: Weekly export sales fell 61% to 152,900t but new crop sales heavy at 1.590mln.m/t’s (China 1.263mln. and Unknown 212,600t); StrategieGrains lowered E.U. production by 100,000t to 65.9mln. due to less French area; open interest rose 6670 amid light volume; current weakness in futures ‘blamed ‘ on rains in western corn belt (5-day 1/10th/1/2 inch). December back to testing important support at $4.91 and while I have a range of $5.00-4.75 the calendar and 2 back-to-back 1.0mln. plus export sales might hold it in here.
Exports: None Visible.
Comments: Old crop export sales 110,600t up from a negative number last week, Mexico buys 69,400t of it; new crop sales 591,700t led by Unknown and China; weekly meal sales a nothing at 41,600t and soyoil sales light at 10,600t (Mx. 9,500t of it); China futures lower on profit taking reportedly; NOAA above normal temps for western U.S. and New England, Aug./Oct. no clear trend but central/so.plains above normal temps. Aug./Oct. (what, no early freeze?). Futures under pressure on the rains in western Corn Belt including Iowa/Ks./Neb./Mo.; open interest rose 5400 amid light volume. The bulls hope the ‘squeeze’ in August beans will resurrect them and put support in the deferred’s.
Exports: Japan buys 172,726t U.S./Can./Aust.; So.Korea buys 35,200t Aust.
Comments: Weekly export sales rose to 996,600t (near 1.0mln. again!) led by China at 420,000t (and Brazil another 124,000t…Argentina problems?); StrategieGrains increases estimate of E.U. wheat to 113.4mln.m/t’s up 1.9mln. on higher acreage; open interest fell 1212 amid very light volume. No opinion change but corn keeping a lid on rallies.