Summary: Last week Brazil exported 1.20 MMT corn. The US exported 755,110 MT. Argentine exports were 739,000 MT. Ukraine shipped just 2,019 MT. As of Sep 18, Brazil’s total corn export “commitments” for the local marketing year were 21.55 MMT vs 27.58 MMT last year. Commitments have accounted for 63.4% of projected total annual exports. Ship lineup…
Summary: Brazil shipped 1.296 MMT of soybeans last week. Argentine exports were 58,000 MT. US export inspections are estimated to be 1.58 MMT. There is 4.28 MMT scheduled to ship in September and 1.35 MMT scheduled for October. USDA left its projection of Brazil’s local marketing year exports at 81 MMT. However, “pace analysis” implies…
Summary: Monday’s soybean export inspections could be 1.58 MMT (58.0 Mil Bu). That would be up 23% from this past week. This week’s ship lineup is 2.68 MMT. That is down 10% from last week which was the largest for that week in at least 5 years. There were 37 vessels to-be-nominated (TBN). That is up…
Summary: As of September 17, China’s “spot” soybean crushing margin was 199 Yuan/MT, up 69 Yuan from the prior week. The “forward” margin was -81 yuan/MT, up 55 Yuan. The forward margin is 175 Yuan below what it was a year ago. Domestic soyoil’s price jumped 6.4% from a week ago. Domestic soymeal price was up…
Summary: US ethanol production slipped about 1.5%. Ethanol stocks dropped by 1% but stocks-as-a-percent-of-use are about average. Blender demand was up about 1.5% thanks, in part, to an increase in gasoline use. Futures-based ethanol producer margins on Sep 11 were 13.7 cents/gln, down nearly 18 cents from the previous week. Blender margins were -0.02 cents/gln, down…
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