Summary: In the Nov WASDE, USDA lowered their projection for this year’s Ukrainian corn yield to 7.25 MT/HA (115.5 Bu/Ac). That’s down 1.4% from the previous projection and down 7.5% from last year’s yield of 7.84 MT/HA (125.0 Bu/Ac). The most recent Ukrainian harvest report shows this year’s cumulative average yields are lagging the pace needed to meet the…
Summary: China’s “spot” soybean crushing margin today was 101 Yuan/MT, up 32 Yuan from a week ago. The “forward” margin was 204 Yuan/MT, up 31 Yuan from the prior week. The forward margin was 27 Yuan below what it was a year ago. Domestic soyoil prices slipped 0.8% after setting a two-year high two weeks ago. …
Summary: Last week Brazil exported 1.035 MMT of corn. That is 675,000 MT more than the previous week and it is 360,000 MT more than what was shipped a year ago. Last week, Argentina exported 755,000 MT and the US exported 605,000 MT. Ukraine’s exports were 859,000 MT. As of Nov 22, Brazil’s total corn…
Summary: Brazil shipped 1.18 MMT of soybeans last week. That’s up from the previous week’s 542,000 MT but 159,000 MT less than a year ago. Argentina exported 283,000 MT. US inspections are expected to be 2.75 MMT. In the November WASDE, the USDA raised their projection for Brazil’s exports by 1 MMT to 70.0 MMT…
Summary: Based on data as of mid-November, the shipments of wheat from the Big-8 exporters (Arg/Aust/Can/EU/Kaz/Rus/Ukr/US) during Jul-Nov is estimated to be a record 67.6 MMT. That’s up 3.0% from a year ago. In recent years, USDA’s November WASDE projection of global wheat exports has been too low (by 1-13%). However, last year’s November WASDE…
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