Summary: US ethanol production rose 1.5%. Despite the modest increase in production, ethanol stocks slipped 0.3% from last week’s record high. Blender demand was estimated to have risen by 0.6%. Weekly residual use (a proxy for exports) was 48 Mil Gal vs the previous week’s 25 Mil. Cumulative residual use was 10% below a year ago.…
Summary: China’s “spot” soybean crushing margin today was 27 Yuan/MT, up 16 Yuan from the prior week. The “forward” margin was 46 yuan/MT, down 25 Yuan. However, the forward margin was 247 Yuan above what it was a year ago. Domestic soyoil’s price was down 2.4% from a week ago and down nearly 19% since mid-January.…
Summary: Last week Brazil exported 68,000 MT corn. Ukraine’s exports were 895,000 MT. The US exported 912,922 MT. Argentina exported 245,000 MT. As of Feb 21, Brazil’s total corn export “commitments” for the 2019/20 marketing year were 38.77 MMT vs 24.57 MMT last year. Commitments have accounted for 92.3% of projected total annual exports. Ship lineup…
Summary: Brazil shipped 1.72 MMT of soybeans in the 3rd week of the new-crop marketing year (Feb-Jan). That’s up from the previous week’s 1.59 MMT but it is 276,000 MT less than a year ago. There were no exports from Argentina last week but US exports were 594,536 MT. According to global trade service data,…
Summary: Next week ’s soybean export inspections are expected to be 775,000 MT (28.5 Mil Bu). That would be down from the previous week. This week’s ship lineup is 635,000 MT. That is down from last week and a 38-week low. There were 25 vessels to-be-nominated (TBN). That is down from last week. This past week there were 3 vessels…
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