Exports: Sold So.Korea 68,000t; Sold Taiwan 29,000t.
Comments: Weekly export sales a (-) negative 59,100t after China buys 62,000t but Japan/Unknown cancels 204,000t; new crop sales 836,100t; StrategieGrains revises E.U. corn crop down 200,000t to 65.7mln.m/t’s on lower harvests; NOAA calls for above normal temps. Sept./Nov. in northeast/Great Lakes; open interest rose 6,800 even as Sept. fell 10,300 amid moderate volume; as before, a soybean/soymeal low if in will be supportive corn; as such might avoid new hedges in the December until the $4.80’s-4.90’s for now and let the market sit a bit.
Exports: Sold Taiwan 5,000t.
Comments: Weekly export sales a (-) negative 10,500t highlighted with: China buys 47,800t while unknown cancels 130,000t; new crop sales 1.893mln.m/t’s led by China/Unknown; Soymeal sales up hard from low levels to 122,400t (new crop 121,1000t); soyoil sales 1,800t a nothing (new crop light also at 6,000t); Lack of rains apparently in forecasts having a bullish effect since the temps are forecast back to the 90’s next week. I am comfortable with the reading of the market for now (lows in) and will look for an upside to likely get some new hedges on; open interest rose 12,000 led by November up 6,600 amid moderate volume.
Exports: Taiwan buys 101,500t opt/org.
Comments: Weekly export sales fell 33% to 490,100t as buying by Brazil (140,700t) and China (60,900t) offset by Unknown cancelling 174,000t; China sees a problem with heavy rains in spring wheat areas; England plantings at 30-year low on early rain problems; StrategieGrains 2013-2014 harvest raised 800,000t to 134.2mln.m/t’s; European futures make new contract lows; open interest fell 6,400 led by Sept. amid good volume. As before, treating as a corn adjunct for now.