Summary: Today, Egypt’s GASC purchased 120,000 MT of wheat from Ukraine (for shipment in Jul 10-25). On a FOB basis, the average price paid is estimated to be $210.00/MT. That is down $33 MT from the price paid at the last tender in mid-April. The average CIF price paid was $220.65 MT. That is $33.72…
Summary: As of June 02, China’s “spot” soybean crushing margin was -1 Yuan/MT, down 45 Yuan from the prior week. The “forward” margin was -167 yuan/MT, down 42 Yuan. Also, the forward margin was 169 Yuan below what it was a year ago. Domestic soyoil’s price was up 3.3% from a week ago. Three months ago,…
Summary: Brazil shipped 2.51 MMT of soybeans last week. That is 840,000 MT less than the previous week but 522,000 MT above a year ago. Argentine exports were 413,000 MT. US export inspections are estimated to be 485,000 MT. In the May WASDE, the USDA raised their projection for Brazil’s exports by 0.5 MMT to…
Summary: Next week ’s soybean export inspections are expected to be 485,000 MT (17.8 Mil Bu). That would be up 46% from this past week. This week’s ship lineup is 223,000 MT. That is down 25% from last week. Three months ago saw the lowest lineup in nearly 4 years. There were 28 vessels to-be-nominated (TBN). That is up from last…
Today, the EU Commission slashed their projection for EU-27 common wheat estimate to 121.5 MMT. That’s down 4.3 MMT from last month’s estimate and 9.4 MMT less than last year. The USDA is using the EU-28 to project “all” wheat production. If the USDA adopts the Commissions’ projection for EU-27 “common” wheat, then we estimate…
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