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🌍📈 Trade Concerns, USDA Report, and Global Wheat Supply Woes | US Export Sales and Drought Monitor Updates

🌍 US Chamber of Commerce: Trump and Harris Could Harm Trade
The US Chamber of Commerce voiced concerns that both Donald Trump and Kamala Harris would be detrimental for US trade:
Trump’s planned tariffs: A 60% tariff on Chinese imports and 10% on all other imports would raise inflation and hurt US companies that rely on imported components.
Harris’ stance on trade: Harris has been anti-trade in the past, voting against free trade deals due to their lack of attention to climate change. She argues these agreements lead to lost US manufacturing jobs, despite opening global markets for US goods.

🌾 US Export Sales Mostly As Expected
Last week’s US export sales data came in largely as expected:
Corn sales: 1.2mmt (48 million bushels), down 27% from the prior week. Unknown destinations were the largest buyer.
Soybean sales: 1.3mmt (46 million bushels), down 12% week-over-week, with China as the largest buyer.
Wheat sales: 443,600mt (16 million bushels), down 2% from last week but up 31% from the 4-week average, with Mexico as the top buyer. 📉

🌱 USDA Crop Production and WASDE Report Coming
The USDA is set to release its monthly Crop Production and WASDE report today at 11:00 AM CST. Here's what traders are watching:
Corn: A potential reduction in US corn carryout due to lower-than-expected September 1st stocks. Strong export and ethanol data could lead to upward adjustments in demand.
Soybeans: Minimal changes are expected in production estimates.
Global balance sheets: Adjustments to both supply and demand are possible given current global conditions.

🌾 Global Wheat Production Declines
Global wheat production is expected to decline this season due to drought conditions in major producing countries like Russia, Argentina, Australia, Ukraine, and the US:
Russian attacks on grain ships in the Black Sea are further exacerbating supply concerns, driving Chicago wheat futures to their highest levels in four months.
The USDA projects world wheat ending stocks to fall to a nine-year low of 257.2mmt this season. 🌍

💧 US Drought Monitor Update
The USDA’s latest drought monitor shows worsening conditions across much of the Corn Belt:
Corn: 49% of the crop is experiencing drought conditions.
Soybeans: 43% impacted by drought.
Winter wheat: 47% affected, as well as 29% of spring wheat.
Cattle: 43% of cattle areas are facing drought.

📊 US Economic Data: A Mixed Bag
Thursday’s economic data revealed both positive and negative trends:
CPI: Consumer prices rose 0.2% for the month, exceeding expectations of a 0.1% increase. Year-over-year inflation reached 2.4%, the lowest since February 2021.
Jobless claims: Weekly claims hit a 14-month high at 258,000.

#TradeConcerns #USDAReport #WheatProduction #USExportSales #DroughtMonitor #CPIData #AgNews

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0:00 USDA Preview
2:41 Ethanol Production is Strong
5:55 Deere Stock
7:17 Brazil Rain
8:19 Flash Sale
8:57 CPI Preview

🌾 Upcoming USDA Report
Get ready! The USDA is set to release its monthly Crop Production and WASDE report on Friday morning. Traders are expecting minimal changes to this year's US corn and soybean production estimates. However, there’s talk of a potential reduction in the new crop US corn carryout estimate due to lighter-than-expected September 1st stocks. Some traders are speculating upward adjustments to the demand side of the corn balance sheet, thanks to strong export and ethanol data. Keep an eye out for possible changes to global supply and demand balances as well! 📈

🌿 Ethanol Production on the Rise
US ethanol production saw a boost last week, hitting 1.04 million barrels per day—up 2.3% week-over-week and 2.9% compared to the same week last year. Ethanol stocks were reported at 22.2 million barrels, down from the previous week but still showing a year-over-year increase. Implied gasoline demand surged, with a 13% increase from last week and 20% from the same week last year. Over the last four weeks, implied US gasoline demand is up 8.4% compared to the same period last year. 🚗💨

🚜 John Deere's Stock Steady Despite Tariff Threats
John Deere’s stock remains strong, even in the face of tariff threats from Donald Trump, who plans to impose a 200% tariff on machinery sold into the US if Deere moves production to Mexico. Despite the political drama, Deere's stock hit a 52-week high! Analysts believe traders are focusing on the market realities rather than political rhetoric. It seems there’s a 70% chance that tariffs will be implemented regardless of who wins the election! 📈💪

🌧️ Brazil's Soybean Country Receives Scattered Showers
Scattered showers moved across Brazil's soybean regions overnight! The weather models are having a bit of a disagreement on rainfall amounts for the next 5-10 days; the Euro model is notably wetter than the GFS model. Both models, however, suggest widespread rainfall during the 5-10 day period, potentially benefiting soybean planting. 🌧️🇧🇷

🌽 Flash Sale of Corn Reported
USDA reported a flash sale of 126,000 metric tons (5 million bushels) of corn to unknown destinations for delivery during the 2024/2025 marketing year. US corn export commitments are currently the fifth best in the last ten years—looking good out there! 📦

📊 CPI Report Ahead
Today's Consumer Price Index (CPI) report is expected to show further moderation in consumer prices, with a projected increase of 0.1% in September and a year-over-year increase of 2.3%. This report could be a significant market mover, influencing the Federal Reserve's next moves on interest rate cuts. The market is currently pricing in an 84% chance of a 0.25% rate cut in November. 📉

Stay tuned for more updates, and let’s keep the momentum going! 🌱✨

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🌱📉 Soybean Futures Fall | Brazil Rains, China-EU Tariffs, Oil Price Drop, and Biofuel Expansion

📉 Soybean Futures Take a Hit
On Tuesday, Nov24 soybean futures fell nearly 18 cents per bushel, losing half of the gains made over the past five weeks:
Uncertainty around China’s fiscal stimulus appears to be the driving factor behind the sell-off. Traders are glued to any news about stimulus measures.
Adding to the pressure, a wide-open US harvest forecast and expected rains in Brazil next week have kept traders cautious.

🌧️ Rains Set to Return to Brazil Next Week
Both the Euro and GFS weather models are predicting the return of Brazil’s wet season next week, which could accelerate soybean planting:
Brazil’s planting has been delayed due to hot and dry conditions, but the arrival of rain should help ensure proper emergence and reduce the risk of replanting.
The growing season is still young, with November through January being key months for both the market and weather conditions in Brazil. 🌱

🌍 China Retaliates Against EU Tariffs on EVs
In response to the EU’s recent tariffs on Chinese electric vehicles, China announced a series of retaliatory measures:
Tariffs on gasoline-powered cars with large engines from the EU are under consideration.
Starting Friday, China will impose a 39% tariff on brandy imports from the EU.

🛢️ Oil Prices Drop on Ceasefire Hopes
Oil prices dropped sharply on Tuesday, with WTI crude falling 4.6% to $73.57 per barrel:
A potential ceasefire between Hezbollah and Israel contributed to the decline.
While oil prices surged 8% last week due to Middle East tensions, analysts now believe Israel may target military and intelligence sites rather than oil facilities in future strikes.

🏭 Brazil to Build World’s Largest Soy Oil-Based Biofuel Plant
Brazilian energy company Grupo Potencial will invest $109 million to create the world’s largest soy oil-based biofuel plant:
The plant will increase annual biodiesel production capacity by 80% to 428 million gallons.
Construction will begin in 2025 and is expected to be completed by 2026.
This investment comes as Brazil's government prepares to sign a bill increasing the biodiesel blend in diesel fuel. 🔋

🚜 USDA Reports Flash Sale of Soybeans
The USDA reported a flash sale of 166,000mt (6 million bushels) of soybeans to China for the 2024/2025 marketing year:
Despite the sale, US soybean export commitments for the current marketing year are the third worst in the last ten years.

👇 Stay Connected!
Make sure to subscribe for more updates on global trade, crop markets, and energy trends. What do you think of Brazil's biofuel expansion and the impact of China’s trade retaliation? Drop your thoughts in the comments! 💬

#SoybeanFutures #BrazilRains #ChinaEUTariffs #OilPriceDrop #BiofuelExpansion #USDAFlashSales #AgNews

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🌾 Brazil's Soybean Planting Lagging Behind
Brazilian soybean planting is facing challenges due to dry conditions, with only 4.5% of the expected area planted as of last Thursday. This is a significant drop from 10% during the same week last year. Mato Grosso, the country's top soybean-producing state, is experiencing its slowest planting pace in nine years due to hot and dry weather. 

🇺🇸 US Soybean Harvest on the Fast Track
The US soybean harvest is making swift progress, reaching 47% completion nationally through Sunday, compared to just 26% the prior week and 34% on average. This harvest pace marks the second fastest in the last ten years! Notable states that have crossed the 50% mark include Arkansas, Iowa, Louisiana, and Minnesota. Meanwhile, corn harvest stands at 30%, slightly ahead of average at this time of year. Current corn conditions remain steady at 64% rated good to excellent. 🌽

🌾 Winter Wheat Planting Slightly Behind
Winter wheat planting in the US is 51% complete, which is slightly behind the average of 52%. Analysts had projected it to be 54% complete by now. States like Colorado and South Dakota have made notable progress with more than 60% of their crops planted.

🎯 Escalating Tensions in Ukraine
Recent Russian missile strikes have damaged two vessels carrying Ukrainian grain in the Odesa region. One attack resulted in the death of one individual and injuries to five others. Since the onset of the conflict in 2022, Russia has damaged a total of 20 civilian vessels, raising serious concerns over trade in the Black Sea. Meanwhile, Russia's Agriculture Minister has called for rain as the winter wheat crop faces significant drought challenges.

📦 US Soybean Shipments Surge
US soybean shipments saw a remarkable boost last week, with 1.4 million metric tons (53 million bushels) inspected for export, marking a 110% increase from the previous week and slightly up from last year. However, corn and wheat shipments were near the lower end of expectations, with corn at 933,274 metric tons (37 million bushels) and wheat at 363,460 metric tons (13 million bushels).

🚢 Flash Sales Reported
US exporters reported multiple flash sales on Monday, including:
155,000 metric tons (6 million bushels) of corn to Mexico for the 2024/2025 marketing year.
172,500 metric tons (6 million bushels) of soybeans to unknown destinations for the 2024/2025 marketing year.

🌦️ Looking Ahead
As we move through October, the weather will continue to be a crucial factor for both US and Brazilian crops. Keep an eye on forecasts and market reactions as harvest progresses!

Stay tuned for more updates as the situation unfolds! 🌾📊

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🌽📉 Funds Reduce Net Short Positions | Middle East Conflict, Brazilian Planting Delays, and US Job Growth

📊 Funds Drastically Reduce Net Short Positions
The CFTC released its Commitment of Traders data on Friday, showing a significant reduction in net short positions by large money managers:
Corn: Funds are now short 72k contracts, down from a record short of 356k in July.
Soybeans: Net buyers of 44k contracts, reducing their net short to 32k contracts, the smallest since the end of May.
SRW Wheat: Net buyers of 6k contracts, bringing the net short to 25k contracts, the smallest since October 2022.

🌍 Conflict in the Middle East Escalates
Tensions continue to rise as Israeli defense reported five projectiles launched from Palestinian territory on Monday. Here’s the latest:
Sirens sounded across central Israel, and two people were injured, according to Bloomberg.
Over the weekend, Israel sent troops back to parts of northern Gaza, indicating ongoing security concerns.
The conflict has pushed crude oil futures to fresh multi-week highs, affecting global markets. 🛢️

🌱 Brazilian Soybean Planting Lags
Brazilian soybean planting is falling behind last year’s pace due to hot and dry conditions:
Only 4.1% of the total expected area has been planted, compared to 7.8% at this time last year.
Weather models are predicting rainfall this week, which could help planting progress. 🌧️

🌦️ US Farmers to Stay Busy Amid Dry Weather
US farmers are in for a dry week, perfect for harvest activities:
After a dry weekend, Corn Belt farmers will see another week of mostly dry weather, with above-normal temperatures in the Plains and western Corn Belt.
GFS models suggest no significant rainfall in key corn and soybean areas through October 23rd.

🌾 Russian Wheat Prices Soar
Russian wheat prices have climbed to their highest levels since June due to severe drought:
Prices have risen by 4.3% in the last two weeks.
Lower production is pushing Russian exporters to limit shipments.
Egypt, a major buyer, recently launched its largest wheat tender of 3.8mmt in August. 

🚜 USDA Reports Flash Sales
The USDA reported multiple flash sales on Friday:
116,000mt (4 million bushels) of soybeans sold to China for delivery during the 2024/2025 marketing year.
198,000mt (8 million bushels) of corn sold to unknown destinations for the 2024/2025 marketing year.

📈 US Job Growth Exceeds Expectations
US job growth in September surpassed forecasts:
Nonfarm payrolls rose by 254,000, beating the expected 150,000.
Unemployment declined to 4.1%, down from 4.2% in August.

👇 Stay Informed!
Make sure to subscribe for the latest on ag markets, weather forecasts, and global economic shifts. 

#CornFutures #SoybeanMarket #MiddleEastConflict #BrazilPlanting #JobGrowth #USDAFlashSales #AgNews

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🌍 ADM Suspends Carbon Capture Project
ADM has halted CO2 injection at its carbon capture and storage site in Illinois following the discovery of a potential leak underground. This site, one of the first of its kind in the US, aims to combat climate change, but environmental groups have raised concerns about potential harm to drinking water supplies. While ADM assures there’s no risk to public health, this incident poses a setback for carbon capture initiatives. The EPA previously found ADM in violation of federal safe drinking water laws.

⛽ Oil Prices Spike Amid Middle East Tensions
Oil prices surged on Thursday as the US considers supporting an Israeli attack on Iranian oil facilities. WTI crude rose over 5%, closing above $73 per barrel, marking the largest one-day gain in nearly a year. A potential strike on Iranian oil could lead to prices rising by an additional $28 per barrel and increase gasoline prices by about 67 cents. Current US gasoline prices have been lower due to weak demand and slower growth in the US and Chinese economies.

⚓ Dockworkers' Strike Temporarily Resolved
The US dockworkers' strike has reached a temporary resolution, with a tentative agreement in place that extends the current contract until January 15. Workers will see a 62% wage increase over the new six-year contract. Negotiations will continue on other issues, including automation. It’s expected that the cargo bottleneck caused by the strike will be cleared in about 12 days.

🌧️ USDA Drought Monitor Update
The latest USDA drought monitor shows improvements in drought conditions across parts of the Corn Belt due to rainfall from Hurricane Helene. States like Kentucky, Indiana, Illinois, and Missouri benefited, while Wisconsin, Michigan, and Minnesota saw worsening conditions. Currently, drought conditions affect:
Corn: 27%
Soybeans: 26%
Winter Wheat: 44%
Spring Wheat: 22%
Cattle: 31%

📊 Strong Corn Export Sales
US new crop corn export sales were impressive last week, with net sales hitting 1.7 million metric tons (66 million bushels), the highest volume since November. Mexico was the largest buyer. Net soybean sales also remained solid at 1.4 million metric tons (53 million bushels), while net wheat sales exceeded expectations at 443,700 metric tons (16 million bushels), with Japan being the largest buyer.

💰 Record High for Money-Market Funds
US money-market funds have reached a record high, with about $38.7 billion added during the week ending October 2. Total assets in these funds have risen to $6.46 trillion. This surge follows a third-quarter increase of $321 billion, significantly higher than the previous quarter’s $63 billion. This influx of investment continues even as the Federal Reserve begins to cut interest rates.

Stay tuned for more updates as the market continues to evolve! 🌱📈

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0:00 "Fast and Furious" Harvest
2:10 Brazil Weather
5:09 Reduced Russian Wheat Exports
6:35 Russian Drone Attack
8:07 Ethanol Production is STRONG
9:09 Dockworkers

🌾 Fast-Paced US Harvest Ahead
The US corn and soybean harvest is set to move quickly due to a dry forecast. USDA reported that the harvest pace for both crops is ahead of average. The most recent Euro model suggests no significant rainfall for the central United States over the next 10 days, with above-normal temperatures expected throughout the Corn Belt. This is excellent news for farmers looking to expedite their harvest!

🌧️ Brazil's Weather Update
A small storm cluster has moved over northern Mato Grosso, bringing some much-needed rain to Brazilian soybean areas. The 10-day Euro model predicts scattered rain across much of Brazil's soybean regions through next week, although total rainfall is expected to remain below normal. However, the 16-day GFS anomaly map indicates that key soybean areas may see closer-to-normal rainfall later this month.

🌾 Russia's Wheat Export Estimates Lowered
Estimates for Russia's wheat exports have been slightly reduced. Sovecon has lowered its forecast to 47.6 million metric tons due to unfavorable weather conditions affecting the harvest. Despite this reduction, wheat shipments from July to August remain slightly lower than last year's record levels. Russian wheat stocks are currently at 24.8 million metric tons, down 14% compared to last year.

🚁 Drone Attack Affects Ukrainian Ports
A recent Russian drone attack has damaged Ukrainian port infrastructure, raising concerns about Black Sea trade and causing Chicago wheat futures to hit a three-and-a-half month high. The attack targeted grain facilities near Ukraine's border with Romania and affected electricity supplies in the northern Sumy region, impacting almost 80,000 people.

🚜 US Ethanol Production Update
US ethanol production saw an increase last week, with weekly output at 1.02 million barrels per day, marking a 2.1% rise compared to the previous week and a 1% increase year-over-year. Ethanol stocks are currently at 23.5 million barrels, slightly down from the previous week but up 6.4% compared to last year. However, implied gasoline demand fell 7.4% from the previous week.

⚓ Dockworkers Strike Update
President Joe Biden has called for negotiations to resume between striking dockworkers and US port employers. While he’s not planning to intervene directly, Biden warned that the ongoing strike could lead to significant economic consequences. Talks have stalled over wage increases and automation issues, with the strike expected to increase consumer prices and cost the US economy billions.

Stay tuned for more updates as the situation evolves! 🌱📊

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🌾 Corn Futures Rally as Hedge Pressure Remains Low
Corn futures reached new multi-month highs overnight, with the Dec24 contract peaking near $4.33 per bushel. The rally has now reached 48 cents from its August low. Here's what's driving the surge:

Large money managers have been aggressive buyers, reducing their net short positions from a peak of 356k contracts in July to just 50-60k.
Despite an extremely active US harvest, hedge pressure is minimal, possibly due to concerns of a tighter new crop balance sheet after USDA’s lighter-than-expected old crop carryout estimate.

📉 US Farmer Sentiment Hits Eight-Year Low
US farmer sentiment took a dive, hitting its lowest level in more than eight years:
The Purdue University CME Group Ag Economy Barometer dropped to 88 in September, a 12-point decline from August.
Main concerns include low commodity prices, high input costs, trade uncertainties, high interest rates, and potential policy changes post-election.
Farmers expect much lower profitability in the coming year compared to their outlook at this time last year.

🌍 Iran’s Direct Attack on Israel and Market Impacts
Tensions flared in the Middle East as Iran launched its largest direct attack on Israel:
Hundreds of ballistic missiles were fired, with Israel’s Iron Dome intercepting most of them.
The US Navy assisted, launching about a dozen interceptors.
Oil prices surged over 5% amid concerns about possible supply disruptions in the region. In response, the US has increased its military presence and plans to send more troops and fighter squadrons in the coming days.

🌱 StoneX Raises US Corn & Soybean Crop Estimates
StoneX has adjusted its forecasts for this season’s crops:
Corn yield is now projected at 184 bpa, up from 182.9 bpa. This puts corn production at 15.22 billion bushels, an increase from 15.13 billion.
Soybean yield is estimated at 53.5 bpa, up slightly from 53 bpa, with production forecasted to reach 4.61 billion bushels.

🛢️ Renewable Diesel Production Decline
US renewable diesel production saw its largest monthly decline on record in July:
Production fell by 6% to roughly 4.6 billion gallons per year.
The market has reached a surplus, with output surpassing demand despite government-mandated consumption targets and subsidies.
The demand for vegetable oils as a feedstock also dropped by more than 5.6% to 1.2 billion pounds.

🚜 USDA Flash Sales of Corn & Soybeans
USDA reported multiple flash sales on Tuesday:
195,000mt (8 million bushels) of corn was sold to unknown destinations for the 2024/2025 marketing year.
120,000mt (4 million bushels) of soybeans were also sold to unknown destinations for the 2024/2025 marketing year.

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🌽 Corn Futures Rally
Corn futures saw a boost on Monday following a friendly USDA report, which pegged September 1st US corn stocks at 1.76 billion bushels. This figure is 52 million bushels below the USDA's previous estimate due to increased feed and residual usage. The report also confirmed that there were no major surprises in the US wheat production estimates.

📦 Dockworkers Strike on the East and Gulf Coasts
Dockworkers from the International Longshoremen's Association began a strike overnight after failing to reach an agreement with the US Maritime Alliance. This strike is estimated to cost the US economy $540 million per day and will impact container shipments from 36 ports from Maine to Texas. The strike could significantly affect grain exports, with containers accounting for about 10% of these shipments.

🌱 Brazilian Soybean Planting Lags
Brazil's soybean planting is lagging, with only 2% of the expected area planted as of last Thursday, compared to 5.2% during the same week last year. Hot and dry conditions are a significant factor in the slow planting progress. As for corn, 30% of the projected acres for Brazil's first corn crop have been planted.

🇨🇳 Boost for Chinese Corn Futures
Chinese corn futures surged 1.9% on the Dalian Commodity Exchange, marking the largest one-day gain since January. Recent stimulus measures in China, including lower interest rates and eased home purchase restrictions, have boosted investor confidence. Additionally, reduced grain imports are expected to drive corn futures higher as the Chinese government advises buyers to cut purchases.

🌾 US Harvest Ahead of Schedule
The US corn harvest is progressing well, with 21% harvested nationally compared to 14% last week and 18% on average. States like Kansas, Kentucky, North Carolina, Tennessee, and Texas have already harvested over 50% of their crops. Soybeans are also ahead, with 26% harvested. However, corn conditions slipped slightly to 64% rated as good to excellent.

🌱 Winter Wheat Planting Ongoing
US winter wheat planting is currently 39% complete, ahead of last week’s 25% and in line with the average of 38%. States like Colorado, Nebraska, South Dakota, and Washington have planted over 50% of their crops.

📈 Export Shipments Update
US corn shipments remained strong, with 1.1 million metric tons (45 million bushels) inspected for export, reflecting a 70% increase from the same week last year. Soybean shipments were reported at 675,749 metric tons (25 million bushels), up 36% from the prior week, while wheat shipments totaled 536,929 metric tons (20 million bushels), a 25% increase year-over-year.

🥡 Flash Sale of Soybeans
USDA reported a flash sale of 116,000 metric tons (4 million bushels) of soybeans to China for delivery during the 2024/2025 marketing year, although current soybean export commitments remain among the lowest in the last decade.

Stay tuned for more updates as the week progresses! 🌾📊

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🌱 Soybean Futures Surge
Soybean futures rallied sharply on Friday, with the nearby Nov24 contract gaining nearly 25 cents (2.4%) per bushel—its best close since July 25th! The rally was largely driven by soybean meal futures, which skyrocketed 5.3%. Hurricane-related storms are expected to disrupt soybean crushing in some southeastern US facilities, leading to market adjustments regarding meal supplies. Concerns about weather conditions in Brazil also contributed to the upward movement.

📊 Grain Stocks Report Coming Up
The USDA is set to release its quarterly Grain Stocks report today at 11:00 AM CST. Analysts expect significantly higher stocks for corn, soybeans, and wheat compared to last year. Estimates suggest:
Corn stocks: up 36%
Soybean stocks: up 32%
Wheat stocks: up 12%
There may also be adjustments to the 2023 production estimates for corn and soybeans.

📉 Funds Adjust Positions
"The Funds" have been actively trimming their net short positions in the corn and soybean markets. As of September 24, they were net buyers of 4,000 contracts of corn and 37,000 contracts of soybeans. The net short in soybeans is now 76,000 contracts, the smallest since early June. Since the peak short in July, fund traders have covered 362,000 contracts across corn, soybeans, and SRW wheat.

🌾 Decline in European Wheat Crop
Europe's wheat production is expected to hit a 12-year low. The European Commission estimates this season's soft wheat crop at 114.6 million metric tons, down 9% from last year, largely due to unfavorable weather conditions. France and Germany, the leading producers, are projected to face significant declines.

⚓ Strike at Vancouver Port Ends
The Vancouver grain workers' strike concluded last week with a tentative agreement. The four-day strike impacted six key terminals, affecting grain exports. A ratification vote is scheduled for Friday. Meanwhile, dockworkers at the Port of Montréal are set to strike for three days starting today.

💰 Gold Positions on the Rise
Money managers have ramped up their bullish positions in gold, increasing their net-long position by 0.9% as of last Tuesday. The net long now stands at 254,841 contracts, the highest since March 2020, with gold prices reaching an all-time high of $2,685.58 per ounce.

🛢️ Flash Sale of Soybean Oil
USDA reported a flash sale of 20,000 metric tons of soybean oil to South Korea for delivery during the 2024/2025 marketing year. This marks the first flash sale of soybean oil since April 2023.

Stay tuned for more updates as we head into the week! 🌟📈