Summary: Monday’s soybean export inspections could be 750,000 MT (27.6 Mil Bu). That would be up 70% from this past week. This week’s ship lineup is 2.9 MMT. That is up 64% from last week and the largest in 42 weeks. There were 41 vessels to-be-nominated (TBN). That is down slightly from last week’s 10-month high. US…
With just about 7% of the area harvested, Ukraine corn yields are rising and above average. The cumulative average yield is 5.22 MT/HA (see red line in chart below). That is above last year at this time (see black line). USDA is projecting that final corn yields will be the 2nd highest ever at 7.2…
Summary: Russian harvest reports show this year’s yields are well below last year at this time. Harvest reports to date suggest USDA’s projection is about right. The USDA is projecting a crop of 72.5 MMT. Cumulative average yield is slightly higher than what the USDA is projecting but there’s talk that abandonment will be higher than currently…
Summary: US ethanol production was down slightly this past week. Ethanol stocks were up 0.5%. Gasoline consumption was up from the previous week and was up 3% from what it was in 2019. Blender demand increased 1%. Futures-based ethanol producer margins on Sep 28 were $1.08/gln, down $0.16 from the previous week. Three weeks ago, ethanol margins…
Summary: Tomorrow the USDA will release its Small Grains and September Reports. Corn stocks could fall below expectations because the fourth quarter’s “implied” corn feed and residual (F&R) is much smaller than what is inferred from F&R over Sep-May. Over nearly four decades, Dec corn futures on the day of the Stocks Report, have ranged from…
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