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Tidbits, Currency, Drought Areas, Soybean Yields, Export Sales, Markets & Rain Days Update 9/15/23

Marketing Comment


The soybean meal and soybean oil marketing years end September 30. As always, there are shipments previously bought to be shipped this marketing year, but, for any one of hundreds of reasons, the actual shipments get delayed until after the end of the marketing year, making the shipment in the next marketing year.

Yesterday’s Weekly Export Sales showed net cancellations for the current marketing year for meal and oil. Those who want lower prices are making a big deal of the cancellations. What they do not tell you is that those cancelled sales for this marketing year will mostly be shipped in the early weeks of the next marketing year, which begins October 1st.

 

Highlights


There are three ships headed to the Ukrainian port of Chernomorsk, located ten miles southeast of Odessa. The three are:

  • Resilient Africa – 3,500 mts

  • Aroyat – 18,500 mts

  • Forza Doria – 32,500 mts

Will Russia attack these ships before arriving, or while they are loading, or after they leave the port? Will Russia even attack them? If not, Ukraine grain will be flowing again until Russia puts a halt to it. One Panamax freighter (55,000 mts) owner announced it will arrive in Chernomorsk in October for a load of grain.

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