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S Illinois | Does USDA publish in season county by country accounting of expected export demand?
I wouldn’t count on ABC(anyone but China) export demand being the same as last year with the different pricing dynamics. China will not have the same impetus and need to take every single bu Brazil produces to keep from buying US beans. This means a relative weaker Brazil sourced bean price for those other countries and an stronger US sourced price from Feb on. The US only has freight advantage to Mexico and Columbia. All the other demand hotspots are a wash so that EU demand lock that the US had last year isn’t going to be as strong.
Edit: Just for general FYI, I saw the first minor weakening this week of river export basis since the run up started in Aug. It could be nothing but that huge export push may be getting closer to being filled than expected.
Edited by w1891 10/29/2020 09:38
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China soybean purchases
