Summary: Next week ’s soybean export inspections are expected to be 1.215 MMT (44.6 Mil Bu). If this is correct, that would be up 24% from the previous week. This week’s ship lineup is 1.250 MMT. That is up 83% from last week. There were 19 vessels to-be-nominated (TBN). That is unchanged from last week. This past week…
Summary: US ethanol production rose fractionally. However, ethanol stocks dropped 8.6%, falling to their lowest level this year. Blender demand was thought to have declined slightly. Therefore, the drop in stocks has to be attributed to a record high in the “other” disappearance category (or a data error). Ethanol producer margins on Oct 07 were…
Summary: In the Sep WASDE, USDA lowered their projection for this year’s Ukrainian corn yield to 7.35 MT/HA (117.1 Bu/Ac). That’s down 1.3% from the previous projection and down 6.3% from last year’s yield of 7.84 MT/HA (125.0 Bu/Ac). The most recent Ukrainian harvest report shows this year’s yields are HIGER than they were a year ago when harvest…
Summary: Today, Egypt’s GASC purchased 295,000 MT of wheat from Russia and Ukraine (for delivery in Nov 10-Nov 20). On a FOB basis, the average price paid was $205.08/MT. That is up $5.98/MT from last week’s price. The lowest French FOB price was $204.80/MT. The average accepted CIF price paid was $221.76/MT. That is $2.47/MT…
Summary: China’s “spot” soybean crushing margin today was –12 Yuan/MT, down 73 Yuan from the prior week. The “forward” margin was 46 Yuan/MT, down 24 Yuan from the prior week. The forward margin was 27 Yuan below what it was a year ago. In the September WASDE, the USDA lowered left its projections for China’s old-and-new…
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