Grain Express 12/20/22
Posted: Dec. 20, 2022, 7:54 a.m.
Weekly Export Inspections
Yesterday's weekly export inspections were as follows:
- Corn: 743,420 metric tons, VS 517,417 last week
- Soybeans: 1,619,850 metric tons, VS 1,878,278 last week
- Wheat: 304,108 metric tons, VS 219,358 last week
Private Exporters
Yesterday morning the USDA announced two flash-sales:
- 132,000 metric tons of soybeans (4,850,168 bushels) for delivery to unknown destinations for 2022/2023
- 141,000 metric tons of corn (5,550,923 bushels) for delivery to Mexico for 2022/2023
A Look at the Outside Markets
Equity markets were under pressure last night following a Bank of Japan meeting. Crude oil is quietly higher, and the U.S. Dollar is under moderate pressure.
Corn (March)
Managed Money Position: 127,106 (Updated with the weekly CoT Report)
Seasonal Trend in Play: March corn futures have trended higher from November 16th to January 4th for 13 of the last 15 years.
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Soybeans (March)
Managed Money Position: 119,580 (Updated with the weekly CoT Report)
Seasonal Trend in Play: March soybeans have trended higher from November 16th to January 9th for 14 of the last 15 years.
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Wheat (March)
Managed Money Position: -63,004 (Updated with the weekly CoT Report)
Seasonal Trend in Play: None
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