Intense Polar Vortex ALSO Caused Excessive Late Winter Precipitation
An intense late winter polar vortex certainly caused expected temperature extremes but ALSO the excessive precipitation causing developing river flooding in the Central U.S.
US/China Deal Optimism Sparks CBOT Rally in Huge Volume; Wheat the Upside Leader on Fund Demand
** CBOT futures are higher at midday on positive comments from USTR Ambassador Lighthizer that the US/China are in the final weeks of having an agreement, but there are still issues that must be resolved. Lighthizer went further than the US/China have scored real progress and that the final document is running as long…
Slight Improvement in China’s Soybean Crush Margins But Still Near The Greatest Losses in 4+ Years.
Summary: China’s “spot” soybean crushing margin today is -242 Yuan/MT, up from last week’s -279. The spot margin last week was the lowest it’s had been since Jun ’14. The “forward” margin is -110 Yuan/MT vs a week ago when it was -177 Yuan/MT. The forward margin is 64 Yuan below what it was a year ago. This past week, a couple of…
Weekly Brazil New-Crop Corn Exports Very Small and Likely To Stay That Way for Several Months.
Summary: In last Friday’s Mar WASDE, the USDA left their projection for Brazil’s new-crop exports at 29.0 MMT. However, they raised their estimate of Brazil’s old-crop exports 900,000 MT to 25.4 MMT. For the period Mar 02-Mar 08, the ship lineup shows that Brazil exported 81,000 MT of new-crop corn. That is down 55,000 MT…
