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| 7 MMT last year, 8 MMT this year. I suspect that the big grain traders get provisional commitments that are subject to change at the last minute. They know that somebody is going to buy beans, just not when. There has to be some slack in a system where it takes months to get the beans from Illinois to anywhere in the world.
For example, with the case of the three shiploads of beans that missed the Chinese tariff cutoff last summer. They werent' assigned to China until they actually landed even though they were anchored off shore for several months.
Note also that there are still a million MT still committed to China despite the fact that as every month passes more get cancelled. That 20 MMT is actually 19 MMT.
Edited by farmer4321 10/13/2018 08:10
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Soybean exports, then and now.
