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Mid-Week Grain Wire

27-Mar-2019


Today’s pictures focus on weekly export sales and current progress as it relates to USDA’s current projections. Currently, corn sales are lagging the 5 year average pace needed to hit the USDA target by 124.8 million bushels. Soybean sales are behind pace needed by 186.29 million bushels. All wheat sales are off the pace by 22.41 million bushels.

In order to catch up, the amount of sales needed weekly for corn is 30.2 million bushels, 15.0 million bushels for soybeans and wheat 9.7 million bushels.

USDA will update the supply and demand tables again on Tuesday April 9th. It is unclear if they will make adjustments to their export outlook if a deal is not in place with China before the report is released.

This week attention is focused on the USDA’s stocks in all positions report and the planting intentions that will be released Friday, March 29th at noon.

No further progress has been verified in the Chinese/US trade talks this week.

African Swine Fever is still not under control in China. Some reports are estimating that the current pig losses in China would equal the total production in the US, South America and Mexico.