China Buying Australian Wheat

US Crop Progress Report as of September 26

• The US Crop Progress Report showed corn harvest continues slightly ahead of average with 18% now in the bins.

• The corn crop continues to mature ahead of pace, 74% mature versus 64% average.

• Soybean harvest is also slightly ahead of average, 16% versus 13%, though behind last year.

• 现在有75％的大豆掉落，平均水平为66％。

• There was no change in corn and soybean conditions; 59% G/E for corn and 58% for soybeans.

• Winter wheat plantings also make good progress and are at 34% done, versus 32% average.

• 高粱收获为31％，主要与平均水平一致。

• 由于天气，棉花收成继续滞后。完成了11％，有60％的人开放。

fbn的Take On What It Means:Corn and soybean harvests continue slightly ahead of average. Weekend weather was conducive to fieldwork, and the coming week should largely continue that trend. Many winter wheat areas have a good chance for rain this week, but a number of areas will be missed and will warrant monitoring for dryness that could affect establishment.

China Begrudgingly Buying Australian Wheat

• China has bought about two million tonnes of Australian wheat so far this crop year, about 40% of what farmers have sold so far.

• The buying comes as Australia is expecting a second consecutive bumper crop and amid US white wheat production concerns.

• Also, other world producers are seeing production hits from adverse weather and droughts.

• China and Australia have a long-running trade dispute, which has seen anti-dumping duties on and cancelled purchases of Australian commodities.

fbn的Take OnWhat It Means:根据美国农业部的数据，中国预计将生产1.37亿吨小麦，但消费量估计为1.49亿吨。由于天气恶劣，澳大利亚是美国，俄罗斯，加拿大和其他人看到急剧减少的削减，这是中国剩下的少数世界球员之一。痛苦的贸易关系有一些姿势，但全球繁重的股票证明对中国的动力更为强烈。

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