International Ag Insurance Solutions issued the following announcement on Oct. 31.
The grain export market is a major driver for domestic corn, soybean and wheat prices, and the best indication of the health of the export sector is actual shipments, offtakes and loadings at U.S. terminals and at ports in major global trading partners. The latest data show there’s growing potential for U.S. corn export sales based on slowing loadings out of South America and Ukraine, while global soybean loadings remain ahead of last year’s pace, with China the most common destination. A lower expected wheat crop in South America stands to benefit U.S. wheat exports, too. Though it’s not yet met Phase 1 import commitments, China remains the largest buyer on the world stage for all three grains. The net effect of it all is the growth of long positions in the grain futures market, a signal that the market sees upside potential down the road. See more of the latest shipping data.
Original source can be found here.
Source: International Ag Insurance Solutions
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