Summary: There were 35 that estimated an “implied” ratio of corn ending stocks/total use. December corn futures (the day of a WASDE report) is strongly correlated to the WASDE’s projection of ending stocks/use. The average trade estimate for the October WASDE’s stocks/use ratio is 9.5%, unchanged from the previous month. A simple price model forecasts…
Summary: Brazil shipped 445,000 MT of soybeans this past week. There were 71,000 MT shipped from Argentina. US soybean exports are estimated at 470,000 MT. Brazil’s October exports could be 3.0 MMT. USDA projection is a record 86.5 MMT. Exports are slightly ahead of the pace need to meet the USDA’s projection. ++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++ Last week Brazil…
Summary: Last week Brazil exported 328,000 MT of corn. Argentine exports were 509,000 MT. Ukraine shipped just 60,000 MT . US corn exports are estimated to be about 470,000 MT. Data indicates that 1.98 MMT will be shipped in October. USDA’s latest WASDE projection of Brazil’s exports was 22 MMT, down 1 MMT from the…
Summary: Tuesday’s soybean export inspections could be 1.43 MMT (52.5 Mil Bu). That would be up 69% from this past week. This week’s ship lineup is 3.59 MMT. That is up 24% from last week and the largest in nearly a year. There were 40 vessels to-be-nominated (TBN). That is up slightly from last week. US…
Summary: The President of Mexico’s Nat’l Farm Council (CAN) said that Mexico could import a record 19 MMT this year, up from last year’s 16.5 MMT. This forecast is supported by the fact that US corn export commitments to Mexico are a record for this date. ARC projects that the US could capture 97% of…
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