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Writer's pictureWright team
Oct 22, 20244 min read

Tidbits, Harvest Progress, ENSO, Export Inspections 10/22/24

Highlights


Yesterday’s soybean export inspections were the largest weekly total in nearly two years and 69% of the beans went to China.

 

Cash grain export trader Eduardo Vanin reported yesterday that in the last two weeks China bought more than 90 cargoes or soybeans, 35 out of the US, 7 out of Brazil for November shipment and 46 vessels from Brazil’s new crop.

 

Yesterday morning, USDA reported the sale of:

  • 169,926 mts of old crop corn to Mexico and

  • 130,000 mts of old crop corn to South Korea and

  • 198,192 mts of old crop corn to unknown and

  • 116,000 mts of old crop soybeans to unknown and

  • 264,000 mts of old crop soybeans to unknown

 

Poultry eat a lot of corn and bean meal. As a corn and bean producer, you need to keep an eye on that business. USDA monthly report released yesterday (compared to September 2023):

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