Soybean exports were down 868,000 MT from the previous week and cumulative exports are down 10.2% from a year ago. USDA projects total global soybean exports to be UP 5.0% from a year ago. This week’s report marks the third of the international trade year for soybeans. Corn exports were down 954,000 MT from the previous week…
Summary: US ethanol production rose slightly and set a new multi-month high. Ethanol stocks slipped about 1%. Gasoline consumption was down and is 5% less than in 2019 (Pre-Pandemic), but blender demand rose 1%. Ethanol producer margins were $1.02/gln, down 5 cents from the previous week. Blender margins were 0.31 cents/gln, up 0.03 cents and a…
As of Oct 24, EU cumulative wheat and product exports were 9.41 MMT. That’s up 1.90 MMT (29%) from a year ago. USDA projects total EU wheat (and product) exports will be a record 35.5 MMT, up 5.77 MMT (19%) from last year. However, this year’s EU customs surveillance data is incomplete. France, which is…
Summary: China’s “spot” soybean crushing margin is 209 Yuan/MT, up 84 Yuan from a week ago. The “forward” margin is 572 yuan/MT, up 49 Yuan from a week ago. The record forward margin is attributed to low new-crop Brazilian FOB prices and strong forward cash prices offered for soymeal and soyoil. The forward margin is…
Summary: Brazil shipped 425,000 MT of soybeans this past week, the smallest in 37 weeks. There were just 3,000 MT shipped from Argentina. US soybean exports are estimated at 2.625 MMT. Brazil’s October exports could be 3.45 MMT. USDA’s projection for total exports is a record 86.5 MMT. Shipments are slightly ahead of the pace need…
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