Summary: In the Jan WASDE, USDA raised its projection for Brazil’s local marketing year old-crop (Feb’19-Jan’20) soybean exports by 1.3 MMT to 74.1 MMT. Brazil’s official SESEX’s Feb-Dec cumulative exports are 71.609 MMT. That is above the estimate of exports based on figures provided by cargo shipping services. USDA lowered its projection for Brazil’s…
Summary: Next week ’s soybean export inspections are expected to be 965,000 MT (35.5 Mil Bu). If this is correct, that would be up fractionally from the previous week. This week’s ship lineup is 1.505 MMT. That is up 2.5% from last week. There were 23 vessels to-be-nominated (TBN). That is down from last week. This past week there were…
Summary: Tomorrow, we’ll find out if US Winter Wheat Seedings fell to a new low in over a century. Whatever figure the USDA does report it will likely be below the trade’s expectations. Eighty-nine percent of the time the industry’s average estimate for USDA’s January Winter Wheat Seedings Report has been too high. While this is a…
Summary: Tomorrow, the USDA will release its Winter Wheat Seedings, Annual Crop Production, and December Grain Stocks Reports, as well as the January WASDE. Of all these, the corn stocks report has the greatest potential to trigger a sharp price reaction. Stocks could deviate from expectations because of unexpected changes in USDA’s Annual Crop estimate or…
Summary: Today, Egypt’s GASC purchased 300,000 MT of wheat from Russia, Ukraine, and Romania (for shipment in Feb 18-29). On a FOB basis, the average price paid was $232.23/MT. That is up nearly $10/MT from the price paid at the last tender (held nearly a month ago). The lowest FOB price was Ukrainian wheat at…
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