🇺🇸🇨🇳#China is set to sign purchase agreements for U.S. #soybeans on Monday afternoon in Des Moines, Iowa. Specific volumes will be announced during the ceremony.
https://t.co/evDE7SxVg9
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#natgas - For the last 3 years in a row (2020-2022) the April to July period has marked a substantial uptrend in natgas price. And remember, in 2023, we are starting April already at an inflation-adjusted 33-year low price:
https://t.co/ut995Q38xm
Seasonal tendencies start turning bearish in X22 #soybeans this wk. 87% of the time over the last 30 yrs from 9/17-10/5 have seen corrections lower. Long term price action (74 yrs of data) show 65% of time bearish. Just some things to keep in mind.
Conab projected a record 150.36mmt Brazilian soy crop,with 3.5% increase in planted area, and higher yields YoY. company also projected an all-time high volume of 92 mmt in 2023 soybean exports.
Yes up to 8 days NON-STOP cold weather in some regions & don't forget this is on TOP of already severely weakened #coffee plants still not only recovering from last year's massive frost + drought damage, but also further frost THIS year, floods, winds, hails AND now new drought!!
AgResource made its first estimate for 22/23: area planted with soybeans next season should oscillate 42.7- 44.5 million ha, with production 145.6- 151.8mmt. corn is estimated to be planted in 20.5- 22.0 million ha, reaching total production 110.2- 118.0mmt.
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🇦🇷#Argentina's #corn plantings will fall 2.6% in 2022/23 on low soil moisture and lower profitability (inputs are high and #soybeans are cheaper to plant), according to Buenos Aires Grains Exchange. Planting usually starts in Sept. and steadily progresses through January.
Wheat:
-one of worst US winter crop conditions
-one of worst Chinese winter crop conditions
-war in Ukraine: lower crop,Russia under sanctions
Corn:
-lower than expected US acreage
-war in Ukraine: lower crop,Russia under sanctions
-oil shortage
bulls of grainspocalypse 2022