Summary: US ethanol production was down nearly 4%. Ethanol stocks jumped over 7%, greater than trade expectations. Ethanol producer cash-based margins lost another 5 cents and fell to $0.20/gln (over all costs). The Supreme Court turned down a bid to allow expanded, year-round sales of E15. ++++++++++++++++ US ethanol production totaled 296 Mil Gal, down 12…
Soybean weekly exports were down 649,000 MT from the previous week. But cumulative soybean exports are up 5.0% from a year ago. USDA projects total global soybean exports to be up 4.6% from a year ago. USDA’s Dec projection was raised 0.1% from the previous month. Corn weekly exports were down 1.05 mMT from the previous…
There is a “Crib Sheet” available for tomorrow’s Jan WASDE Report: The Excel file has four worksheets for comparing the Jan WASDE figures for: (1) US 2021/22 crop annual estimates, (2) US 2021/22 crop ending stocks, (3) Global 2021/22 crop production, trade, and ending stocks, (4) Argentine and Brazilian crop production, (5) Comparison of analysts’…
Summary: Last week Brazil exported 360,000 MT of corn. Argentine exports were 403,000 MT. Shipments from Ukraine are estimated to be 350,000 MT. US corn exports are estimated to be 1.25 MMT. Brazil’s corn export “commitments” are 20.91 MMT vs 34.97 MMT last year and have accounted for 113.0% of projected total annual exports. Ship lineup…
Summary: Brazil shipped 518,000 MT of soybeans this past week. There were NO Argentine exports and US exports are estimated to be 1.33 MMT. Brazil’s January exports could be a record 4.18 MMT. The previous record for the month was 2.04 MMT (2018). USDA’s projection for total exports is a record 87.0 MMT. “Pace analysis” suggest…
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