{"id":8586,"date":"2023-11-03T09:48:57","date_gmt":"2023-11-03T13:48:57","guid":{"rendered":"https:\/\/www.fundamentalanalytics.com\/?p=8586"},"modified":"2023-11-03T09:48:57","modified_gmt":"2023-11-03T13:48:57","slug":"mixed-signals-from-ag-exports","status":"publish","type":"post","link":"https:\/\/www.fundamentalanalytics.com\/pt\/mixed-signals-from-ag-exports\/","title":{"rendered":"Mixed Signals from Agricultural Exports"},"content":{"rendered":"<p style=\"text-align: center;\">October 31, 2023<\/p>\n<p><em>Exports of main agricultural commodities made big weekly changes for wheat and soybeans; corn remained unchanged.\u00a0<\/em><\/p>\n<hr \/>\n<h3>Wheat<\/h3>\n<p align=\"center\"><strong>Wheat exports fell on 1 year low, prices remained below $6 mark<\/strong><\/p>\n<p align=\"center\"><img fetchpriority=\"high\" decoding=\"async\" class=\"aligncenter  wp-image-8587\" src=\"https:\/\/www.fundamentalanalytics.com\/wp-content\/uploads\/2023\/11\/wheat10-30.png\" alt=\"\" width=\"879\" height=\"347\" srcset=\"https:\/\/www.fundamentalanalytics.com\/wp-content\/uploads\/2023\/11\/wheat10-30.png 656w, https:\/\/www.fundamentalanalytics.com\/wp-content\/uploads\/2023\/11\/wheat10-30-300x118.png 300w, https:\/\/www.fundamentalanalytics.com\/wp-content\/uploads\/2023\/11\/wheat10-30-18x7.png 18w\" sizes=\"(max-width: 879px) 100vw, 879px\" \/><\/p>\n<p align=\"center\">\n<ul>\n<li>Weekly exports recorded the biggest drop in 1 year, decreasing by -253,498 tons. The total shipments for the week ending October 19<sup>th<\/sup> were totaled 131,587 tons.<\/li>\n<li>The USDA downwardly revised global production forecasts for the current marketing year as lower output in Australia, Kazakhstan, and Ethiopia offset more abundant harvests in the United States.<\/li>\n<li>Prices were also lifted by persistent concerns that Ukraine may be unable to export its incoming crops, as Russian military forces repeatedly target Ukraine\u2019s grain silos and port infrastructure.<\/li>\n<li>On the other hand, soaring export expectations from Russia continued to pressure global wheat benchmarks and kept US wheat prices 25% lower year-to-date.<\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<h3>Corn<\/h3>\n<p align=\"center\"><strong>Stable corn exports, but prices lowered amid increased supply expectations<\/strong><\/p>\n<p align=\"center\"><img decoding=\"async\" class=\"aligncenter  wp-image-8589\" src=\"https:\/\/www.fundamentalanalytics.com\/wp-content\/uploads\/2023\/11\/corn10-30.png\" alt=\"\" width=\"894\" height=\"354\" srcset=\"https:\/\/www.fundamentalanalytics.com\/wp-content\/uploads\/2023\/11\/corn10-30.png 659w, https:\/\/www.fundamentalanalytics.com\/wp-content\/uploads\/2023\/11\/corn10-30-300x119.png 300w, https:\/\/www.fundamentalanalytics.com\/wp-content\/uploads\/2023\/11\/corn10-30-18x7.png 18w\" sizes=\"(max-width: 894px) 100vw, 894px\" \/><\/p>\n<p align=\"center\">\n<p>&nbsp;<\/p>\n<ul>\n<li>Corn exports fell below 500k tons after August 17<sup>th<\/sup>, totaling 483,692 tons.<\/li>\n<li>Corn futures in the US edged below $4.8 per bushel, not far from the nearly 3-year low touched at the start of September, as heavy rains in drought-hit agricultural regions of Argentina facilitated corn planting and boosted the supply prospects.<\/li>\n<li>The latest USDA report indicated that the US corn harvest progress stood at 59%, in line with expectations and surpassing the five-year averages. This comes on the back of weaker shipments to China since the latter opted to increase its sourcing from Brazil.<\/li>\n<li>China has secured about 780,000 tons of U.S. corn for 2023-24 compared with 3.4 million tons at this point a year ago and nearly 12 million tons two years ago.<\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<h3>Soybeans<\/h3>\n<p align=\"center\"><strong>Soaring soybeans exports, harvest in line with consensus<\/strong><\/p>\n<p align=\"center\">\n<p style=\"text-align: center;\"><img decoding=\"async\" class=\"aligncenter  wp-image-8588\" src=\"https:\/\/www.fundamentalanalytics.com\/wp-content\/uploads\/2023\/11\/soybeans10-30.png\" alt=\"\" width=\"887\" height=\"349\" srcset=\"https:\/\/www.fundamentalanalytics.com\/wp-content\/uploads\/2023\/11\/soybeans10-30.png 656w, https:\/\/www.fundamentalanalytics.com\/wp-content\/uploads\/2023\/11\/soybeans10-30-300x118.png 300w, https:\/\/www.fundamentalanalytics.com\/wp-content\/uploads\/2023\/11\/soybeans10-30-18x7.png 18w\" sizes=\"(max-width: 887px) 100vw, 887px\" \/><\/p>\n<ul>\n<li>U.S. soybean export inspections have seen an increase due to robust shipments to China, according to the Department of Agriculture data. The total shipments for the week ending on October 19<sup>th<\/sup> amounted to 2.4 million tons, up from 394,177 tons from the previous week.<\/li>\n<li>This was the third consecutive weekly increase in soybeans exports.<\/li>\n<li>Soybeans futures have fallen below the $13 per bushel mark due to progress in the Midwest harvest and the promising outlook for much-needed rainfall in important global grain-producing regions.<\/li>\n<li>In addition to the improved weather conditions, American farmers have made significant progress in their soybean harvest.<\/li>\n<li>According to the USDA&#8217;s weekly report released last week, they have completed 75% of the soybean harvest. This is in line with market expectations and is ahead of the typical harvest rates based on the five-year average.<\/li>\n<\/ul>","protected":false},"excerpt":{"rendered":"<p>October 31, 2023 Exports of main agricultural commodities made big weekly changes for wheat and soybeans; corn remained unchanged.\u00a0 Wheat Wheat exports fell on 1 year low, prices remained below $6 mark Weekly exports recorded the biggest drop in 1 year, decreasing by -253,498 tons. The total shipments for the week ending October 19th were [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"default","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"set","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[1],"tags":[],"class_list":["post-8586","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"_links":{"self":[{"href":"https:\/\/www.fundamentalanalytics.com\/pt\/wp-json\/wp\/v2\/posts\/8586","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.fundamentalanalytics.com\/pt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.fundamentalanalytics.com\/pt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.fundamentalanalytics.com\/pt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.fundamentalanalytics.com\/pt\/wp-json\/wp\/v2\/comments?post=8586"}],"version-history":[{"count":1,"href":"https:\/\/www.fundamentalanalytics.com\/pt\/wp-json\/wp\/v2\/posts\/8586\/revisions"}],"predecessor-version":[{"id":8590,"href":"https:\/\/www.fundamentalanalytics.com\/pt\/wp-json\/wp\/v2\/posts\/8586\/revisions\/8590"}],"wp:attachment":[{"href":"https:\/\/www.fundamentalanalytics.com\/pt\/wp-json\/wp\/v2\/media?parent=8586"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.fundamentalanalytics.com\/pt\/wp-json\/wp\/v2\/categories?post=8586"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.fundamentalanalytics.com\/pt\/wp-json\/wp\/v2\/tags?post=8586"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}