Soybeans were able to build on Tuesday’s rally and closed up 2-3 cents at the end of Wednesday’s trading. Soybeans and meal each marked the best closes since the August crop report, while soyoil also marked modest gains. Funds were estimated buyers of 1,500 contracts each in soymeal and soyoil, and bought 3,000 contracts in…
Forecast confidence is increasing regarding an East Coast of Florid strike by Irma with a second landfall to the north near Savannah, GA.
AgResource Daily Farm Marketing Advice for Wednesday: 1/ No new advice. It has been another mildly green session, with corn, wheat and soybeans up 2-4 cents at midday. Spot soy oil continues to flirt with multi-month highs following last week’s June biodiesel production number and as more talk circulates surrounding the potential of lower than…
Bottom Line: Brazil’s corn export “commitments” were estimated to be 15.9 MMT as of Sep 01. That’s up 95% from a year ago and is a record (for this week). Ship lineups indicate that 5.23 MMT could be shipped in September vs last year’s shipments of 2.33 MMT and Brazil’s SECEX “official” September 2016 shipments…
Bottom Line: China crush margins have fluctuated above and below break-even for the past month. This week, the “spot” margin is barely above breakeven but the “forward” margin shows a loss. The “spot” crush margin fell 37 Yuan and is now above break-even at +8 Yuan/MT. The “forward” margin dropped 58 Yuan and is…
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