Tidbits, Argentine & Australian Crops, Crush & Fuel, Farm Economy, Rigs 10/31/26
Tidbits
Flash Sales: The USDA announced yesterday the old crop soybeans sales of 165,150 mts of to unknown (probably Mexico due to uneven volume) and 132,000 mts to unknown, as was reported by the CME Group, but we couldn’t confirm it on the USDA website.
Export demand is becoming a growing concern for corn. Current export sales total 925 million bu., down 34% from last year’s strong pace, while USDA projects a much smaller 4% year-over-year decline. At this point in the marketing year, export sales typically reach about 38% of USDA’s full-year target; this season, sales stand at just 28% of the 3 billion bu. forecast.
Argentina: Kevin Duling, a market adviser who knows more about wheat than anybody else we know, reported roughly 15% of the Argentina wheat crop was hit with a damaging frost with the wheat in a reproductive state. While 15% is not large enough to cause a major world problem, it is another 1 million mts that will not be available for export this next spring.
The Buenos Aires Grain Exchange reports Argentine corn planting at 47% complete, well ahead of an average pace in the low-30% range.
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