PDF attached

 

Good
morning.
 Please
note I will be out the balance of the week, attending the AFOA conference in Nashville. 

 

USDA
FSA Acreage is delayed.  When updated, it will be posted here
https://www.fsa.usda.gov/news-room/efoia/electronic-reading-room/frequently-requested-information/crop-acreage-data/index

 

Soybean
oil is back on stage after a rally in palm futures. India lowered import duties on vegetable oils.  Soybeans are higher and meal lower. Corn is at a three-week low.  News in that market is light. Wheat is taking a pause. We are awaiting results on three wheat
import tenders.  Traders will be looking for Chinese import demand developments after September soybean imports fell sharply from a year earlier. 

 

 

 

 

Weather

7-day

 

 

Bloomberg
Ag Calendar

Wednesday,
Oct. 13:

  • China’s
    first batch of September trade data, including imports of soybeans, meat, and edible oils
  • New
    Zealand food prices
  • France
    AgriMer monthly grains report
  • European
    cocoa grindings
  • Brazil
    Unica cane crush, sugar output data (tentative)
  • HOLIDAY:
    Thailand

Thursday,
Oct. 14:

  • USDA
    weekly crop net-export sales for corn, soybeans, wheat, cotton, pork, and beef, 8:30am
  • EIA
    weekly U.S. ethanol inventories, production
  • Port
    of Rouen data on French grain exports
  • North
    America cocoa grindings
  • Suedzucker
    half-year earnings
  • Agrana
    half-year earnings
  • HOLIDAY:
    Hong Kong

Friday,
Oct. 15:

  • ICE
    Futures Europe weekly commitments of trader’s report (6:30pm London)
  • CFTC
    commitments of trader’s weekly report on positions for various U.S. futures and options, 3:30pm
  • U.S.
    monthly data on green coffee stockpiles
  • Malaysia
    Oct. 1-15 palm oil exports
  • FranceAgriMer
    weekly update on crop conditions
  • HOLIDAY:
    India

Source:
Bloomberg and FI

 

 

 

 

USDA
inspections versus Reuters trade range                                                    

Wheat                 
435,173                 versus   300000-650000  range

Corn                     
746,200                 versus   600000-1000000                range

Soybeans           
1,611,731             versus   650000-1200000                range

 

Macros

 

Corn

·        
Corn
is
at a three-week low on follow through selling from yesterday’s USDA report.   Some analysts are looking for a higher final US corn yield in January.  Note USDA will update their corn yield again in November. 

·        
The US western, central and parts of the eastern areas will see rain one time or another by the end of the week. 

·        
USDA US corn export inspections as of October 07, 2021, were 746,200 tons, within a range of trade expectations, below 870,085 tons previous week and compares to 846,596 tons year ago. Major countries included Mexico for 395,188
tons, Colombia for 83,303 tons, and China for 69,300 tons.

 

Export
developments.

  • Turkey
    seeks 325,000 tons of feed corn on October 14 for November 14 through December 6 shipment.