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3 Big Things Today,June 21
1.Soybeans Lower on Trade Worries;Corn,Wheat Mixed
Soybeans were lower in overnight trading amid ongoing concerns about trade with China.Grain futures were higher.
The Asian nation was absent from the Export Sales Report released yesterday as the trade war with the U.S.continues without an end in sight.
Negotiators from both countries,the world's two largest economies,are reportedly expected to meet ahead of next week's Group of 20 meeting in Japan where presidents Donald Trump and Xi Jinping are scheduled to meet,Trump said in a tweet.
U.S.Trade Representative Robert Lighthizer said yesterday that he will speak with Chinese officials before the official meeting between the presidents,though it's unclear when talks will actually restart.
Guo Shuqing,the chairman of China's Banking Regulatory Commission,said today that the increased tariffs on Chinese goods could backfire on the U.S.,according to the South China Morning Post.He also said the U.S.would "pay a huge price" including lost exports to China,increased costs for consumers,and lost income for tech firms,the newspaper reported.
The U.S.has imposed additional tariffs on more than $200 billion worth of Chinese goods,and Trump has threatened to put levies on another $300 billion in wares if a deal isn't reached.
China,meanwhile,has put tariffs on $60 billion worth of U.S.goods and has threatened retaliation against the U.S.in the form of additional taxes if tariffs are raised.
Soybeans for May delivery declined 4¾¢ to $9.10¾ a bushel overnight on the Chicago Board of Trade.Soy meal fell $2 to $321 a short ton,while soy oil gained 0.01¢ to 28.60¢ a pound.
Corn futures for May delivery were up ½¢ to $4.50½ a bushel overnight.
Wheat for May delivery fell 1¢ to $5.30¾ a bushel overnight,while Kansas City wheat gained 1½¢ to $4.62 a bushel.
2.Export Sales of Corn Plunge Week to Week,Soybean Sales Jump
Export sales of corn plunged week to week,while soybeans saw a big increase,according to the USDA.
Corn sales in the seven days that ended on June 13 totaled 38,400 metric tons,down 77% from the previous week and 90% from the prior five-year average,the USDA said in a report.
Algeria was the big buyer at 59,900 metric tons,followed by Yemen at 58,400 tons,and Japan at 38,700 tons.Mexico bought 31,600 tons,and Guatemala took 30,700 tons.An unknown customer canceled a cargo of 83,900 tons,and Indonesia nixed a shipment of 65,500 tons.
Sales for the 2019-2020 marketing year that starts on September 1 were reported at 360,800 metric tons.
Total sales were pegged from 300,000 to 900,000 metric tons,according to researcher Allendale.
Soybean sales,meanwhile,jumped noticeably from the previous week to 571,500 metric tons last week,which was up 34% from the average for this time of year,the USDA said.
An unknown buyer topped the list at 141,400 metric tons,Egypt was in for 110,000 tons,the Netherlands took 82,600 tons,Japan was in for 56,600 tons,and Indonesia purchased 55,700 tons,according to the agency.
Argentina canceled a shipment for 66,000 tons.
For the 2019-2020 year,sales were reported at 200,000 metric tons.
Total soybean sales were forecast from 200,000 to 800,000 tons.
Wheat sales to overseas buyers totaled 187,600 metric tons last week.The top buyer was Algeria at 59,900 metric tons,Yemen at 58,400 tons,Japan purchased 38,700 tons,Mexico bought 31,600 tons,and Guatemala was in for 30,700 tons,the USDA said.
The total was below forecasts for 200,000 to 500,000 tons.
3.Severe 线上金莎正网开户Weather Forecast For Nebraska,Iowa,Kansas,Missouri Friday
Severe 线上金莎正网开户weather is expected in eastern Nebraska,western Iowa,northeastern Kansas,and northwestern Missouri today as strong to severe thunderstorms roll through the region,according to the National 线上金莎正网开户Weather Service.
Hail,strong winds,and torrential rain are all forecast this morning with another round of storms expected to blow through this afternoon in northern Missouri,the NWS said in a report early this morning.
A severe thunderstorm warning is in effect for some counties in southeastern Nebraska this morning with wind gusts of 60 mph seen at about 6 a.m.this morning.
A severe thunderstorm watch is in effect for much of the rest of the region.
"Isolated severe storms could still occur this morning for southeast Nebraska and southwest Iowa,south of a line from David City in Nebraska and Atlantic in Iowa," the agency said."Wind gusts of up to 60 mph and hail up to a quarter size will be possible."
The thunderstorm watch in the region is in effect until 10 a.m.