Kleist Comments



Exports: So. Korea cxl’s 60,000t feed wheat, buys 60,000t corn, passes on 70,000t corn.

Comments: Deliveries: 2; export sales old crop (-) 113,200t and new crop only 328,300t (confirms for now my take importers booked well enough to back off as our crop stabilizes); Argentine corn plantings kick off this week, slightly slow on dryness; open interest rose 7,500 amid light volume; December holding the low $4.60’s likely waiting what the weekend brings, or the bean/meal pit.


Exports: None Visible.

Comments: Weekly export sales 5,100t, new crop 844,100t led by China at 599,500t; meal sales and soyoil sales both limp; soyoil deliveries 247; open interest rose 10,500 in yesterday’s mini-reversal… got grossly oversold or a ‘line in the sand’? Should see spec selling November in the $13.80-13.90 area. I consider yesterday’s action one of our ‘whipsaws’ for now.


Exports: Pakistan buys 25,000t Ukraine; So. Korea cxl’s 60,000t feed wheat tender (px too high).

Comments: Deliveries Chigo: 159; KC. 1; open interest little changed in total even as May rises 1,076 amid very light volume; weekly export sales rose 21% to 668,400t led by Brazil at 187,200t, shipments a marketing year high. IF wheat were an island I’d be lightly bullish but corn still makes it just a peninsula.

Kleist Comments

This is John Kleist, of Kleist Ag Consulting.
Questions? Email me: johnwkleist@sbcglobal.net

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