US Pattern Little Change; Harvey Makes Landfall Fri/Saturday: The EU and GFS made limited changes to the 10-day outlook, and save for the Delta/Southeast a dry/cool pattern lies ahead. Tropical Storm Harvey looks to make landfall in SE Texas on the weekend, and for now it’s projected to maintain Tropical Storm status. It may become…
Fresh demand news is again lacking. The results of Farm Journal’s tour are far from clear, but NE’s yield (165, vs. a 5-year average of 163) was better than anticipated, and so far the newswires are void of any big disasters. We maintain that the market is probing for a bottom, and ethanol use remains…
US futures ended near unchanged, while EU futures ended modestly higher. Along with strength in the euro today, EU cash markets rallied $1-2/MT, further boosting their premiums to Black Sea and US origin. Algeria closes a tender for optional origin wheat on Thursday, and it’s probable that US HRW will be included. Note that Algerian…
Bottom Line: The US ethanol market remains strong. No change to the USDA’s forecast is needed in the near term, but there’s talk of plant expansion and ongoing export demand. Certainly, downward revisions are unlikely in the next several months. ++++++++++++++++++++++++++++++++++++++++ US ethanol plants through the week ending August 18th produced 309.3 million gallons of…
Bottom Line: China’s Oct-Jul cumulative feed imports are 19.92 MMT vs last year’s 24.86 MMT. That’s down 20% from last year and the lowest in four years. Based on USDA’s August WASDE, total annual feed imports are projected to be 22.32 MMT, down 23% from last year. Surprisingly, the financial incentive to import corn and other…
Contact
submission
You have successfully added an item to your cart! You may view the contents of your cart and proceed with checkout, or continue shopping.
Multiuser
subscription
How many users would you like to add?
