After the market closed yesterday, the USDA announced that export sales data will not be available until further notice. They went to a new format first used last Thursday and the system crashed. This is the same government that wants us to trust them about climate change, electric cars, green energy, managing the money supply, the economy, COVID vaccine and they can’t even put a group of numbers together that require a simple arithmetic exercise we used to do in fourth grade.
After the close today, delivery notices will be issued for the first of September futures contracts. We expect there will be zero deliveries, but that is a risky prediction.
Corn basis in Brazil remains under pressure as brokers say there is no export demand. No bids were issued for September or October yesterday. Ukraine corn is cheaper and closer.