Summary: As of August 05, China’s “spot” soybean crushing margin was 284 Yuan/MT, up 27 Yuan from the prior week. The “forward” margin was 7 yuan/MT, up 25 Yuan. The forward margin is 21 Yuan above what it was a year ago. Domestic soyoil’s price was up 2.4% from a week ago. Five months ago, soyoil’s…
Summary: If StoneX’s (INTL FCStone) corn estimate is too high, the median error (in years when the StoneX’s estimate was too high) was 1.6%. Based on StoneX’s estimate of 15,320 Mil Bu, that would equate to about 252 Mil Bu less – – or 15,068 Mil Bu. USDA’s July WASDE corn crop projection was 15,000 Mil Bu.…
Summary: Last week Brazil exported 1.45 MMT corn. The US exported 716,127 MT. Argentine exports were 590,000 MT. Ukraine shipped just 28,000 MT. As of July 31, Brazil’s total corn export “commitments” for the local marketing year were 12.89 MMT vs 18.67 MMT last year. Commitments have accounted for nearly 38% of projected total annual exports. Ship…
Summary: Brazil shipped 939,000 MT of soybeans last week. Argentine exports were 153,000 MT. US export inspections are estimated to be 445,000 MT. We estimate that 8 MMT was shipped from Brazil in July. There is 6.68 MMT scheduled to ship in August and 514,000 MT scheduled for September. SESEX is expected to release Brazil’s July trade figures…
Summary: Next week ’s soybean export inspections could be 530,000 MT (19.5 Mil Bu). That would be up 12% from this past week. We estimate that the weekly average pace needed to meet USDA’s projection is 28 Mil Bu (770,000 MT). This week’s ship lineup is 1.083 MT. That is up 156% from last week. There were 28…
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