Summary: The EIA’s weekly petroleum report featured another decline in weekly ethanol production but also a modest draw in stocks as gasoline use increased slightly. Weekly US gasoline consumption will be an important measure of economic activity as states begin to re-open economies. ARC notes that current data still reflects a weak economy and rapidly…
Summary: China’s “spot” soybean crushing margin today was 53 Yuan/MT, down 50 Yuan from the prior week. The “forward” margin was -19 yuan/MT, down 12 Yuan. However, the forward margin was 50 Yuan above what it was a year ago. Domestic soyoil’s price was up 0.4% from a week ago. A month ago, soyoil’s price approached…
Summary: Brazil shipped a record 3.65 MMT of soybeans last week. That is 45,000 MT more than the previous week and 1.47 MMT above a year ago. For the first time in a couple of months, Argentine exports were substantial at 323,000 MT. US export inspections are estimated to be 550,000 MT. In the April…
Summary: Next week ’s soybean export inspections are expected to be 550,000 MT (20.2 Mil Bu). That would be up 2% from this past week. This week’s ship lineup is 480,000 MT. That is unchanged from last week. A month ago saw the lowest lineup in nearly 4 years. There were 18 vessels to-be-nominated (TBN). That is unchanged from last…
Bottom Line: In recent years, Brazil’s Safrinha crop accounted for two-thirds or more of the total corn crop. Harvest of the this year’s Safrinha crop is still a couple of months away. Some major producing regions anticipate record yields while other areas (the South in particular) have suffered from drought. Despite the contradictory outlook, there…
