Corn vs Crude 🌽 🛢️
The two had been tracking very closely over the course of the last month
However the last few days have seen a rather large divergence
Crude has put together a nice rally
While corn and the rest of grain markets continue to sell off
Weather outlook for Saturday & Sunday, 6 - 7 June 2026.
Partly cloudy & cold conditions are expected, with isolated showers possible along the east & south-west coast of the country.
#saws#weatheroutlook#southafricanweather
🇨🇳Excessive rains may have caused up to 10 million metric tons of Chinese wheat to sprout, which would downgrade roughly 7% of the crop from food to feed quality.
This could prompt China to import more wheat in the second half of this year.
🇺🇸U.S. export sales were generally lackluster last week, mostly meeting or falling short of expectations. Wheat activity continued to be distorted by year-end rollover. Still no clear signs of Chinese buying for new-crop soybeans, corn, wheat or sorghum.
🇧🇷Brazil exported 14.8 million metric tons (545 mbu) of soybeans in May, up 5% from a year ago, with 71% bound for China.
Brazil's Jan-May shipments to China totaled 38 mmt (1.4 bbu), more soybeans than the U.S. has ever shipped to China in an entire marketing year.
Weather outlook for Friday & Saturday, 5 - 6 June 2026.
Partly cloudy & cold conditions are expected, with isolated to scattered rain & showers possible over the eastern parts of the country. Weather conditions are expected to clear from Friday. #saws#weatheroutlook
Extended weather forecast for Thursday and Friday, 04-05 June 2026:
Partly cloudy and cold to cool with isolated to scattered showers and thundershowers but widespread over the southern and south-eastern parts on Thursday where snowfall is expected in the high lying areas.
#saws
Soybean crush margins were estimated at $5.64. This is $2.36 better the the 52-week average of $3.28 and $2.87 better than the 52-week average of $2.77. #OATT
Where do soybean bulls need to hold? 🌱
That $11.40 range is viewed as a huge level.
It was the lows from 2024.
It was the highs from last November.
It was right where this market bottomed in April.
Below that level there is some massive air beneath us and room for downside risk.
Each time we’ve traded between $10.80 and $11.40 we’ve either rallied right through or fell right through. Leaving a pocket of air.
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