Summary: US ethanol production jumped nearly 2% and set a new seasonal high. Ethanol stocks were down 1.5%. Blender demand was estimated to be up nearly 3%. Ethanol producer margins on Dec 27 were 17.62 cents/gln, up from the previous week’s 15.35 cents. Blender margins were 3.52 cents/gln, up from the previous week’s 3.16 cents/gln. …
Summary: Next week ’s soybean export inspections are expected to be 875,000 MT (32.1 Mil Bu). If this is correct, that would be down 19% from the previous week. This week’s ship lineup is 1.67 MMT. That is up 24% from last week. There were 27 vessels to-be-nominated (TBN). That is up from last week. This past week there…
Summary: US wheat export commitments are above last year but below the long-term average for this time of year. In the December WASDE, the USDA pegged 2019/20 “all wheat” exports (grain plus products) at 975 Mil Bu. That’s up 25 Mil Bu from the November projection. “Pace analysis” suggests that USDA’s HRW exports projection is…
Summary: In their Dec WASDE, the USDA raised left their projection for EU wheat exports unchanged at 29.0 MMT (vs 23.3 MMT last year). In recent years, the EU has been the world’s second largest wheat exporter. In 2014/15, the EU exported a record 35.5 MMT. This year, the Former Soviet Union (FSU) is projected…
Summary: China’s “spot” soybean crushing margin today was 12 Yuan/MT, down 31 Yuan from a week ago. The “forward” margin was 71 Yuan/MT, down 13 Yuan from the prior week. The forward margin was 7 Yuan above what it was a year ago. Domestic soyoil prices rose 0.1% and set a 34-month high. In the December…
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