Grains stronger near the break with beans up 4 cents, wheat up 3 ½ cents, and corn up 1 ¾ cents.
Government shutdown, day 33. FSA will reopen all off offices tomorrow, January 24th.
Yesterday’s U.S. weekly export inspections had wheat exports running 10% behind a year ago and 11% behind last week with the USDA forecasting an 11% increase on the year.
Corn exports are running 61% ahead vs a week ago with the USDA up 1% for the season.
Six soybean vessels were loaded last week, headed for China. This is the most since the start of the tariff fight between China and the U.S.
Wire story is reporting China is said to consider buying up to 7 million tons of U.S. wheat.
Delayed USDA reports are expected to show one of the smallest planted winter wheat acre numbers in years.
Chart of the Day
Soybean export inspections rebounded to their highest level in eight weeks this week—a counter-seasonal move—at 43.6 million bushels, thanks to China’s return, buying just over one-third of that total on the seven days ending January 17. That cumulative figure was still behind the comparable figure of 52.2 mbu last year. Cumulative soybean inspections now stand almost 470 mbu behind last year’s pace through 20 weeks of ‘18/19, with the USDA still looking for a –229 mbu YoY entire-year bean export decline.