Summary: US wheat export commitments are above last year but below the long-term average for this time of year. In the March WASDE, the USDA pegged 2019/20 “all wheat” exports (grain plus products) at 1,000 Mil Bu. That’s unchanged from the February projection. ARC is projecting US exports of 975 Mil Bu. Also in the March…
Summary: China’s “spot” soybean crushing margin today was 112 Yuan/MT, down 49 Yuan from the prior week. The “forward” margin was 220 yuan/MT, down 30 Yuan and a close to a 4-month high. The forward margin was also 396 Yuan above what it was a year ago. Domestic soyoil’s price was down 3.5% from a week…
Summary: Today, the USDA released its Prospective Plantings and March Grain Stocks Reports. Corn planting intentions were larger than expected and corn stocks were about 209 Mil Bu BELOW the average of trade expectations. In absolute terms, this was the third largest negative discrepancy between the corn stocks figure and trade expectations in 37 years. On…
Summary: Brazil shipped 3.54 MMT of soybeans last week. We believe that is a weekly record, up 750,000 MT from the previous week and 1.58 MMT above a year ago. There were no exports reported from Argentina last week but US exports are estimated to have been 400,000 MT. In the March WASDE, the USDA…
Summary: Next week ’s soybean export inspections are expected to be 400,000 MT (1.7 Mil Bu). That would be down 30% from the previous week. This week’s ship lineup is 148,000 MT. That is down from last week and it is the lowest in nearly 4 years. There were 24 vessels to-be-nominated (TBN). That is up from last week. This…
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