|Markets have gained across the board again today, with Rapeseed continuing the upward streak.|
Weekly US export data has been broadly supportive for grains.
Wheat: Although net sales of 355.9Kt for 2021/2022 were down 42% from the previous week, they are still up 1 percent from the prior 4-week average. Exports of 507.9KT were down 1% from the previous week, but up 2% from the prior 4-week average.
Corn: Net sales of 373Kt for 2021/2022 were primarily for Canada (135.8KT). Exports of 485.8KT while still down year on year are showing signs of recovery, and up significantly from the 192Kt the week before.
Soybeans: Net sales of 902.9KT for 2021/2022 were primarily for China (624KT). Exports of 274KT were perhaps a little disappointing, well below the same week last year (1.282Mt), but still up from last week.
Weekly US ethanol production again took a downward turn last week, at 926K barrels per day, down from 937K the week before, the 7th week that production has been below an estimated 1000K barrels per day.