The Corn Belt continues to have a lot more rain predicted than what actually falls.
After last week’s $1+ lower wheat prices, all the major government wheat buyers issued tenders to save a few (or many) bucks per ton by Saudi Arabia, Bangladesh, Algeria, Tunisia, Japan and on and on. Egypt did contract to buy 180,000 mt of wheat from India just today.
It does look like the large international corn buyers are standing aside for now with the hope of lower prices to come. Argentina is the lowest cost corn supplier.
Let's Talk Soybeans a little bit...
Mexico is the world's second leading soybean importer, but China imports 18 times more beans than Mexico.
The World Top Soybean Importers in 2020: