Summary: Next week ’s soybean export inspections are expected to be 1.11 MMT (40.8 Mil Bu). If this is correct, that would be down 4% from the previous week. This week’s ship lineup is 1.63 MMT. It is down 33% from last week. There were 30 vessels to-be-nominated (TBN). That is up from last week. This past week there were 10…
Summary: This week, new-crop US corn export sales rose 302,000 MT (and increased 119,000 MT for old-crop). New-crop sales were towards the low end of the range of industry expectations. New-crop export sales (plus estimated “roll-over” sales from old-crop) are the lowest in seventeen years. However, sales to Mexico account for nearly half of total…
Summary: US ethanol production dropped 2.2% this week. Ethanol stocks also dropped 2.2%. Blender demand declined slightly. Ethanol producers’ margins on Aug 20 were 18.00 cents/gln, up sharply from the previous week’s 7.52 cents. Blender margins were 3.79 cents, up from the previous week’s 3.29 cents/gln. The spread between Brazilian and US ethanol prices was…
Summary: China’s “spot” soybean crushing margin today was 85 Yuan/MT, unchanged from a week ago. The “forward” margin was 50 Yuan/MT, also unchanged from a week ago. However, the forward margin was 153 Yuan above what it was a year ago. In the August WASDE, the USDA lowered its projections for China’s old-and-new crop imports by 2…
Summary: For the period Aug 10-Aug 16, the ship lineup shows that Brazil exported 1.54 MMT of corn. That is 316,000 MT less than the previous week but it is 717,000 MT more than what was shipped a year ago. Last week, Argentina exported 819,000 MT; the US exported 510,334 MT; and Ukraine’s corn…
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