Summary: the US ethanol market continues to search for supply & demand equilibrium. This has come via sharply reduced production. But as of last week, US ethanol inventories continued to build despite weekly grind being down nearly 45% from the previous year. Additional modest cuts to weekly production are expected in the second half of…
Summary: Today, Egypt’s GASC purchased 120,000 MT of Russian wheat (for shipment in May 15-Jun 05). On a FOB basis, the average price paid was $241.50/MT. That is up $13.75/MT from the price paid at the last tender two months ago. The average CIF price paid was $251.00 MT. That is $13.73 MT above the…
Summary: China’s “spot” soybean crushing margin today was 108 Yuan/MT, down 20 Yuan from the prior week. The “forward” margin was 137 yuan/MT, down 35 Yuan. However, the forward margin was 272 Yuan above what it was a year ago. Domestic soyoil’s price was down 0.4% from a week ago. A month ago soyoil’s price approached…
Summary: Brazil shipped 2.41 MMT of soybeans in last week’s 6-day work week . That is 734,000 MT below the previous 6-day week but 620,000 MT above a year ago. There were no exports reported from Argentina last week but US exports are estimated to have been 395,000 MT. In the April WASDE, the USDA…
Summary: Next week ’s soybean export inspections are expected to be 395,000 MT (14.5 Mil Bu). That would be up 32% from the previous week which was the lowest in 33 months. This week’s ship lineup is 219,000 MT. That is up slightly from last week. Two weeks ago saw the lowest lineup in nearly 4 years. There were…
