South central kansas | McHusker - 7/30/2020 13:51
To even raise an eyebrow? Another record purchase of corn, 1.9 mmt and change, and one would think we are all asleep. I do feel a little tired actually. Given recent events, I do wonder if they do this all the way to harvest if anyone will even care.
Or, how much lower would corn be if not for those sales? My response will surprise many but I'd guess "not much" different. Export sales have come at a time when U.S. corn producers have been active sellers of current corn inventory. It's not a stretch to imagine producer sales have been at least = or > export sales in past 3 weeks. Yes there’s still a lot of old crop in the country. Only when new crop export sales get way ahead of USlessDA will the trade take notice. Maybe. important to consider USDA's forecast for 20/21 corn exports are currently +375 m.b. vs. 19/20. +300 m.b. for 20/21 soybeans. Active export sales should be expected. I assume the trade is always aware of fundamental context of what can be reasonably known.
Edited by zenfarm 7/30/2020 14:59
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How much does China have to buy...
