In this file:

 

·         Corn Extends Rally Through Thursday

·         Beans Continue Strength

 

 

Corn Extends Rally Through Thursday

 

Alan Brugler, Barchart

Jul 28, 2022

 

Corn futures extended their recent strength on Thursday with contracts up 11 to 16 cents at the close. December didn’t spend long around the $6 mark, settling at $6.19. Some weather premium is being added back into the market.

 

USDA reported 150k MT of corn was sold for old crop shipment during the week that ended 7/21. That was in-line with estimates and was above the 4-week average. Mexico and Japan were the top buyers during the week, with minimal cancelations. For new crop, bookings were 193.7k MT. That was below the range of pre report estimates. Corn shipments were 867,900 MT. That was a 19% boost from the 4-wk average with nearly 400k MT to Mexico and over 200k MT to China. 

 

Milo sales were reported at 3.4k MT for 21/22 delivery. New crop sales were 67k MT and exclusively by China. 

 

more, including links

https://www.barchart.com/story/news/9384500/corn-extends-rally-through-thursday

 

 

Beans Continue Strength

 

Alan Brugler, Barchart

Jul 28, 2022

 

Soybeans busted out another day of double digit gains, with contracts up 20 ¾ to 32 ½ cents across the board. Meal was weaker on the day, with contracts down $2.50 to $7.70. Bean oil was the shiny spot of the product values, with 293 to 466 point gains. 

 

Futures are firmer on the outlook for higher chances of warmer and drier than normal weather through for much of the Corn Belt through the first week and a half of August. 

 

Weekly Export Sales data showed net reductions of 58,600 MT of old crop soybeans sales during the week of 7/21. For new crop, USDA reported 748.8k MT was sold – mostly by China’s 538k MT in purchases. Old crop shipments were 395k MT with Mexico as the top destination. 

 

For the products, USDA reported 28k MT of old crop meal and 4,600 MT of soy oil was sold during the week of 7/21. The trade was looking for at least 50k and 0k MT respectively. USDA also reported 20k MT of soymeal was sold for 22/23 delivery. 

 

more, including links

https://www.barchart.com/story/news/9384484/beans-continue-strength