Summary: As of June 23, China’s “spot” soybean crushing margin was -7 Yuan/MT, up 47 Yuan from the prior week. The “forward” margin was -190 yuan/MT, down 13 Yuan. The forward margin set a new 18-month low on Monday and is 135 Yuan below what it was a year ago. Domestic soyoil’s price was up 2.3%…
Summary: Brazil shipped 3.0 MMT of soybeans last week. Argentine exports were 147,000 MT. US export inspections are estimated to be 350,000 MT. In the June WASDE, the USDA left their projection for Brazil’s exports unchanged at 77.0 MMT. There is 13.78 MMT scheduled to ship from Brazil in June with 5.40 MMT scheduled to ship…
Summary: Next week ’s soybean export inspections are expected to be 350,000 MT (12.9 Mil Bu). That would be down 7% from this past week. This week’s ship lineup is 157,000 MT. That is down 54% from last week and only fractionally higher than the season’s low which set a new 4-year low There were 26 vessels to-be-nominated (TBN). That…
Summary: Today, Egypt’s GASC purchased 240,000 MT of wheat from Romania, Russia and Ukraine (for shipment in Jul 25-Aug 5). On a FOB basis, the average price paid is estimated to be $206.72 MT. That is down $10.98 MT from the price paid at last week’s tender. The average CIF price paid was $218.40 MT. …
US ethanol production through the week ending June 12th totaled 247 Mil Gal, up just 2 Mil on the previous week and still down 22% from the same week in 2019. A weekly average of 288 Mil Gal is needed to meet the USDA’s target, and each week production falls below this average needed rises…
