Summary: The previous week’s EIA data showed that the US ethanol producer’s problems were only beginning. This week’s data shows a further massive cut to weekly production and also another sizable boost in ethanol stocks. US crude and gasoline inventories are also rising quickly. ++++++++++++++++ US ethanol production through the week ending April 3rd totaled…
Summary: China’s “spot” soybean crushing margin today was 128 Yuan/MT, down 43 Yuan from the prior week. The “forward” margin was 172 yuan/MT, down 75 Yuan. However, the forward margin was 341 Yuan above what it was a year ago. Domestic soyoil’s price was down 0.5% from a week ago. Three weeks ago soyoil’s price approached…
Summary: Brazil shipped 3.35 MMT of soybeans last week. That is down from last week’s weekly record, but up 829,000 MT from year ago. There were no exports reported from Argentina last week but US exports are estimated to have been 300,000 MT, a 33-month low. In the March WASDE, the USDA raised their projection…
Summary: Next week ’s soybean export inspections are expected to be 300,000 MT (11 Mil Bu). That would be down 28% from the previous week and the lowest in 33 months. This week’s ship lineup is 205,000 MT. That is up from last week which was the lowest in nearly 4 years. There were 27 vessels to-be-nominated (TBN). That…
AgResource Farm Marketing Advice for Friday: 1/ No new advice. 6:30 AM CST CBOT Prices: May soybeans are down 1.50 cents at $8.5725, May corn is up 3.50 cents at $3.37 with May Chi wheat up 10.75 cents at $5.525. AgResource AM CBOT Comment & Analysis: Good Morning! It is the end of another…
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