Summary: If INTL FCStone’s corn estimate is too high, the median error (in years when the INTL FCStone estimate was too high) was 0.7%. Based on INTL FCStone’s estimate of 13,911 Mil Bu, that would equate to about 98 Mil Bu less – – or 13,813 Mil Bu. Last year, INTL FCStone’s estimate was 1.4% too HIGH. Last…
Summary: If IEG Vantage’s (Informa) corn estimate is too high, the median error (in years when the IEG Vantage estimate was too high) was 0.4%. Based on IEG Vantage’s estimate of 13,792 Mil Bu, that would equate to about 61 Mil Bu less – – or 13,737 Mil Bu. Last year, IEG Vantage’s November estimate was…
Summary: Next week ’s soybean export inspections are expected to be 1.70 MMT (62.5 Mil Bu). If this is correct, that would be up 8% from the previous week. This week’s ship lineup is 2.684 MMT. That is down 6% from last week which was the largest in nearly two years. There were 28 vessels to-be-nominated (TBN). That…
Summary: US wheat export commitments are above last year but below the long-term average for this time of year. In the October WASDE, the USDA pegged 2019/20 “all wheat” exports (grain plus products) at 950 Mil Bu. That’s down 25 Mil Bu from the September projection. ARC is projecting US exports of 925 Mil Bu. Also…
Summary: US ethanol production rose 0.8%. However, ethanol stocks slipped another 1.2%. Blender demand was estimated to be up 1%. Ethanol imports were 53,000 bbl/day, the second week in a row that imports have been reported. Ethanol producer margins on Oct 30 were 29.05 cents/gln, up from the previous week’s 27.24 cents. Blender margins were…
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