Brazil Corn Exports Could Exceed USDA’s Projection by 500,000-750,000 MT.
Summary: Last week Brazil exported 985,000 MT of corn. Argentine exports were 78,000 MT. Ukraine shipped 951,000 MT. US exports were 912,802 MT. As of Jan 01, Brazil’s total corn export “commitments” for the local marketing year were 34.73 MMT vs 38.30 MMT last year. Commitments have accounted for 99.2% of projected total annual exports.…
US Ethanol Stocks Down After Rising For 10 Weeks. Blender demand down 12%.
Summary: US ethanol production was up just 0.1%. Blender demand was down 12%, in keeping with seasonal tendencies. However, ethanol stocks surprised some analysts by declining almost 1$, after 10 weeks of building. Gasoline consumption fell this week and is down 9% from a year ago. Futures-based ethanol producer margins on Jan 05 were -61.1…
January 2021 Global Soil Moisture Analysis And 3-Month Forecast
Highlight: Observations reveal expanding drought in North America and the Black Sea region while South America drought has eased slightly. The outlook indicates strengthening dryness for Texas and eastern Brazil to Argentina. Fig. 1: The global NOAA/CPC global soil moisture anomaly analysis for December 2020 and annotated 3-month soil moisture change. December 2020 global soil…
