Grains:
– Brazil’s 2024/25 soybean production is estimated at 166 million metric tons, up 13% from the previous year but below the USDA estimate of 169 million metric tons
– Brazil’s 2024/25 soybean exports are estimated at 105 million metric tons, consistent with the USDA
– Brazil’s 2024/25 soybean crush estimated at 57 million metric tons, higher than the USDA estimate of 120 million metric tons
– Russia’s 2023/24 total grain production forecast lowered by 4 million metric tons to 224.4 million metric tons
– China’s corn imports down 16% year-to-date, soybean imports up 3%, and wheat imports up 10% year-to-date
– Jordan bought 60,000 metric tons of wheat in a recent tender
– Tunisia is seeking 100,000 metric tons of durum wheat and 125,000 metric tons of optional origin milling wheat

Cattle:
– Cattle on Feed report estimates:
– On Feed: 100.0% to 102.0%, average 100.9%
– Placements: 93.5% to 102.3%, average 99.0% (down 1%)
– Marketings: 96.0% to 97.5%, average 96.6%
– Cattle slaughter at 125,240 head on the previous day
– Choice boxed beef price at $303.91/cwt, down from $308.23/cwt a week earlier

Other:
– Crude oil stocks increased by 1.96 million barrels last week, higher than the expected 500,000 barrel decline
– API reported gasoline stocks increased by 2.34 million barrels, and distillate stocks increased by 2.3 million barrels, both higher than expected
– US natural gas storage survey expects a 50 to 67 BCF build for the previous week, compared to the 5-year average of 67 BCF
– Japan’s LNG imports in August were up 1% year-over-year at 5.729 million tons
– China’s August gasoline exports at 770,000 tons, down 44% year-over-year
– China’s August diesel exports at 880,000 tons, down from 1.26 million tons a year ago
– China’s August jet fuel exports at 1.56 million tons, up from 1.55 million tons a year ago but down from 1.76 million tons in July

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