Summary: US ethanol production was down about 3% this past week, more than had been expected. Ethanol stocks declined about half a percent. Blender demand was unchanged. Gasoline consumption was up slightly from the previous week and was 1% above what it was in 2019. Futures-based ethanol producer margins on Aug 31 were $1.10/gln, up $0.10…
CBT futures are sharply lower at midday on fund selling amid the continued worry over when US Gulf export facilities will come back online. FOB and CIF offers are lacking which is frustrating importers while the futures market endures chart-based selling. Exporters that would normally buy futures to buffer the decline are lacking or nonexistent…
Summary: Brazil shipped 858,000 MT of soybeans this past week. There were 326,000 MT shipped from Argentina. US export inspections were be 377,000 MT. The Brazil ship lineup indicates that 6.14 MMT could be shipped in August. In the August WASDE, the USDA left its projection for Brazil’s local marketing year exports at 86.5 MMT (but still…
Summary: Last week Brazil exported 1.26 MMT of corn. Argentine exports were 1.02 MMT. Ukraine shipped 24,000 MT. US exports were 563,000 MT. As of Aug 27, Brazil’s total corn export “commitments” for the local marketing year were 9.54 MMT vs 17.7 MMT last year. Commitments have accounted for 41.5% of projected total annual exports. Ship lineup…
Charts of the day: CIC September/October 2021 temperature outlooks. Discussion: Climate Impact Company September and October U.S. temperature outlooks. The hot pattern in the Central U.S. is due to the hot start to September. In October, the very warm zone is in the East and along the California coast. A chilly mid-autumn for the North-central…
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