Grains & Oilseed Mid-Session News Update
<div class=\"default-font-wrapper\" style=\"line-height: 1;font-size: 12pt; font-family: Verdana, Geneva, sans-serif;\"><p dir=\"ltr\" id=\"isPasted\" style=\"line-height:1.2;margin-top:0pt;margin-bottom:0pt;\"><span style=\"font-size:12pt;font-family:Verdana,sans-serif;color:#000000;background-color:transparent;font-weight:700;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;\">Grains & Oilseed Mid-Session News Update</span></p><br><p dir=\"ltr\" style=\"line-height:1.2;margin-top:0pt;margin-bottom:0pt;\"><span style=\"font-size:12pt;font-family:Verdana,sans-serif;color:#000000;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:underline;-webkit-text-decoration-skip:none;text-decoration-skip-ink:none;vertical-align:baseline;\">QT News - Top News</span></p><p dir=\"ltr\" id=\"isPasted\" style=\"line-height:1.2;margin-top:0pt;margin-bottom:0pt;\"><span style=\"font-size:12pt;font-family:Verdana,sans-serif;color:#000000;background-color:transparent;font-weight:700;font-style:italic;font-variant:normal;text-decoration:none;vertical-align:baseline;\">CORN</span></p><p dir=\"ltr\" style=\"line-height:1.2;margin-top:0pt;margin-bottom:0pt;\"><span style=\"font-size:12pt;font-family:Verdana,sans-serif;color:#000000;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;\">**USDA Corn 24/25 Export Sales Net (04/10): 1,561,900 mt; 25/26 Net: 10,000 mt; expected 600k-2.1 mln</span></p><p dir=\"ltr\" style=\"line-height:1.2;margin-top:0pt;margin-bottom:0pt;\"><span style=\"font-size:12pt;font-family:Verdana,sans-serif;color:#000000;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;\">**USDA Sorghum (Total) 24/25 Export Sales Net (04/10): 11,500 mt; 25/26 Net: NONE mt</span></p><br><p dir=\"ltr\" style=\"line-height:1.2;margin-top:0pt;margin-bottom:0pt;\"><span style=\"font-size:12pt;font-family:Verdana,sans-serif;color:#000000;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;\">-- Jordan's state grain trader on Thursday, set April 23rd as the offer deadline in a tender seeking up to 120,000 mt of feed Barley. The grain is for shipment between August 1 to September 30.</span></p><p dir=\"ltr\" style=\"line-height:1.2;margin-top:0pt;margin-bottom:0pt;\"><span style=\"font-size:12pt;font-family:Verdana,sans-serif;color:#000000;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;\">-- International Grains Council (IGC) on Thursday raised their 25/26 global Corn production forecast to 1.274 bln mt, up +5.0 mln mt from the previous forecast</span></p><p dir=\"ltr\" style=\"line-height:1.2;margin-top:0pt;margin-bottom:0pt;\"><span style=\"font-size:12pt;font-family:Verdana,sans-serif;color:#000000;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;\">-- In the South, warmth is gradually replacing previously cool conditions. Today’s high temperatures will top 80°F, except in Kentucky, Tennessee, Virginia, and the Carolinas. Although planting is advancing at a normal to faster-than-normal pace across much of the region, significant fieldwork delays persist in wetter areas of the mid-South.</span></p><br><br><p dir=\"ltr\" id=\"isPasted\" style=\"line-height:1.2;margin-top:0pt;margin-bottom:0pt;\"><span style=\"font-size:12pt;font-family:Verdana,sans-serif;color:#000000;background-color:transparent;font-weight:700;font-style:italic;font-variant:normal;text-decoration:none;vertical-align:baseline;\">SOY</span></p><p dir=\"ltr\" style=\"line-height:1.2;margin-top:0pt;margin-bottom:0pt;\"><span style=\"font-size:12pt;font-family:Verdana,sans-serif;color:#000000;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;\">**USDA Soybeans 24/25 Export Sales Net (04/10): 554,800 mt; 25/26 Net: 181,800 mt; expected 100k-900k</span></p><p dir=\"ltr\" style=\"line-height:1.2;margin-top:0pt;margin-bottom:0pt;\"><span style=\"font-size:12pt;font-family:Verdana,sans-serif;color:#000000;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;\">**USDA Soybean Meal 24/25 Export Sales Net (04/10): 146,200 mt; 25/26 Net: 8,800 mt; expected 150k-450k</span></p><p dir=\"ltr\" style=\"line-height:1.2;margin-top:0pt;margin-bottom:0pt;\"><span style=\"font-size:12pt;font-family:Verdana,sans-serif;color:#000000;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;\">**USDA Soybean Oil 24/25 Export Sales Net (04/10): 10,300 mt; 25/26 Net: 2,200 mt; expected 0k-50k</span></p><p dir=\"ltr\" style=\"line-height:1.2;margin-top:0pt;margin-bottom:0pt;\"><span style=\"font-size:12pt;font-family:Verdana,sans-serif;color:#000000;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;\">**USDA Cotton 24/25 Export Sales Net (04/10): 202,000 mt; 25/26 Net: 65,900 mt</span></p><br><p dir=\"ltr\" style=\"line-height:1.2;margin-top:0pt;margin-bottom:0pt;\"><span style=\"font-size:12pt;font-family:Verdana,sans-serif;color:#000000;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;\">-- Abiove, the Brazil oilseed association, Thursday raised its 2025 Brazil Soybean export forecast to 108.5 mln mt, if realized it would be a record volume exported. The group's previous outlook was 106.1 mln mt. The group said the US-China trade war will likely benefit Brazil soy exports.</span></p><p dir=\"ltr\" style=\"line-height:1.2;margin-top:0pt;margin-bottom:0pt;\"><span style=\"font-size:12pt;font-family:Verdana,sans-serif;color:#000000;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;\">-- Abiove on Thursday lowered its 2025 Brazil soybean ending stocks figure to 5.4 mln mt, off 40.5% from their March estimate at 9.1 mln mt.</span></p><br><br><p dir=\"ltr\" id=\"isPasted\" style=\"line-height:1.2;margin-top:0pt;margin-bottom:0pt;\"><span style=\"font-size:12pt;font-family:Verdana,sans-serif;color:#000000;background-color:transparent;font-weight:700;font-style:italic;font-variant:normal;text-decoration:none;vertical-align:baseline;\">WHEAT</span></p><p dir=\"ltr\" style=\"line-height:1.2;margin-top:0pt;margin-bottom:0pt;\"><span style=\"font-size:12pt;font-family:Verdana,sans-serif;color:#000000;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;\">**USDA Wheat 24/25 Export Sales Net (04/10): 76,600 mt; 25/26 Net: 273,900 mt; expected (-100k)-500k</span></p><br><p dir=\"ltr\" style=\"line-height:1.2;margin-top:0pt;margin-bottom:0pt;\"><span style=\"font-size:12pt;font-family:Verdana,sans-serif;color:#000000;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;\">-- Trade sources reported 75,000 mt of Soft Wheat was purchased by Tunisia at their tender today, paying a reported $262.91/mt cf for 25,000 mt of optional origin wheat, $263.91/mt cf for 25,000 mt, and $264.86/mt cf for the final 25,000 mt cargo. Shipment is expected between May 20 to June 30.</span></p><p dir=\"ltr\" style=\"line-height:1.2;margin-top:0pt;margin-bottom:0pt;\"><span style=\"font-size:12pt;font-family:Verdana,sans-serif;color:#000000;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;\">-- Trade sources now indicate Algeria in their latest tender bought between 600,000 mt to 630,000 mt of mill grade Wheat, up from yesterday's estimate of 570,000 mt to 600,000 mt. Prices were said to center around $267.50/mt cf. Most of the wheat is thought to be sourced from the Black Sea area, including Bulgaria, Romania and Ukraine. Additional volumes and price adjustments maybe possible. The grain is for shipment in either the first or last half of June.</span></p><p dir=\"ltr\" style=\"line-height:1.2;margin-top:0pt;margin-bottom:0pt;\"><span style=\"font-size:12pt;font-family:Verdana,sans-serif;color:#000000;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;\">-- Jordan's state grain trader on Thursday, set April 23rd as the offer deadline in a tender seeking up to 120,000 mt of feed Barley. The grain is for shipment between August 1 to September 30.</span></p><p dir=\"ltr\" style=\"line-height:1.2;margin-top:0pt;margin-bottom:0pt;\"><span style=\"font-size:12pt;font-family:Verdana,sans-serif;color:#000000;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;\">-- International Grains Council (IGC) on Thursday lowered their 25/26 global Wheat production forecast to 806 mln mt, down -1.0 mln mt from the previous forecast</span></p><p dir=\"ltr\" style=\"line-height:1.2;margin-top:0pt;margin-bottom:0pt;\"><span style=\"font-size:12pt;font-family:Verdana,sans-serif;color:#000000;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;\">-- Analysts at SovEcon consultancy Thursday increased their 2025 Russian Wheat harvest estimate to 79.7 mln mt, up from their prior outlook at 78.6 mln mt. The Russian winter wheat harvest was also increased to 52.2 mln mt, up +1.5 mln mt over the prior projection.</span></p><p dir=\"ltr\" style=\"line-height:1.2;margin-top:0pt;margin-bottom:0pt;\"><span style=\"font-size:12pt;font-family:Verdana,sans-serif;color:#000000;background-color:transparent;font-weight:400;font-style:normal;font-variant:normal;text-decoration:none;vertical-align:baseline;\">-- On the Plains, overnight thunderstorms produced some heavy rain, mainly across parts of eastern Kansas. Meanwhile, chilly air is overspreading the northern Plains, accompanied by rain showers and wet snow. Today’s high temperatures will remain below 40°F in southern Montana and environs. In stark contrast, hot, windy weather across the southeastern half of the Plains is increasing stress on rangeland, pastures, and winter wheat. Later today, temperatures will approach or reach 95°F as far north as Kansas</span></p><br><br><br><br><br>LJ</div>