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How much does China have to buy...
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Posted 7/30/2020 14:46 (#8405210 - in reply to #8405102)
Subject: RE: How much does China have to buy...

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.

U.S. exporters have reported 325 million bushels of corn sold to all destinations the past 3 weeks. Corn futures are down 8% & 30-cents for the period . shorter version: strong demand does not ensure strong prices
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.
Replying to
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.
1:52 PM · Jul 30, 2020·Twitter for iPhone
Replying to
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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