PDF attached

 

USDA
reported big soybean and sorghum export sales.  Additional soybeans were reported under the 24-hour plus 110,000 tons of corn.  Follow through short covering spilled over into the Thursday trade for soybeans and corn.  Strength in soybean meal is supporting
soybeans while keeping soybean oil at bay despite another rally in Asian vegetable oils.  China palm oil was up sharply and Malaysia was up 28MYR with cash appreciating $14.00/ton.  Wheat is finding a little support from higher corn and bottom picking.  China
sold all of its 3.994MMT corn offered at auction.  Taiwan’s MFIG passed on corn overnight and South Korea’s NOFI passed on 69k of corn.  Perhaps they want to see lower global cash prices.  Iran passed on corn and bought an unknown volume of soybean meal Egypt
is in for wheat today and lowest offer is $204.90/ton.  . 

 

 

Weather
and Crop Progress

 

See
PDF for weather text………….

 

7
Day Precipitation Outlook

 

Bloomberg
Ag Calendar

THURSDAY,
August 13:

  • USDA
    weekly crop net-export sales for corn, soybeans, wheat, cotton, pork, beef, 8:30am
  • Port
    of Rouen data on French grain exports
  • New
    Zealand Food Prices
  • EARNINGS:
    JBS, Olam

FRIDAY,
August 14:

  • ICE
    Futures Europe weekly commitments of traders report, 1:30pm (6:30pm London)
  • CFTC
    commitments of traders weekly report on positions for various U.S. futures and options, 3:30pm
  • FranceAgriMer
    weekly update on crop conditions
  • EARNINGS:
    Golden Agri-Resources

SATURDAY,
August 15:

  • Malaysia
    palm oil export data for Aug 1-15 from AmSpec

Source:
Bloomberg and FI

 

 

 

 

USDA
export sales

exceeded expectations for old crop soybeans and new-crop topped 2.8 million tons, well above expectations.  Soybean meal export sales were within expectations.  Soybean oil was negative 2,500 tons for old crop but new-crop was very good at 48,300
tons.  Corn export sales were within expectations.  All-wheat of nearly 368,000 tons were ok.  Sorghum export sales were excellent at 282,400 tons an included a large portion for China. 
New-crop-sorghum were a whopping 527,500 tons including 348,000 tons for China.  Pork sales were 10,500 tons. 

 

 

 

 

Macros

 

 

Corn.

 

USDA
Attaché on China pork production