Summary: Yesterday, Egypt’s GASC purchased 300,000 MT of wheat from Russia, Ukraine, and Romania (for delivery in Aug 25-Sep 5). On a FOB basis, the cheapest wheat offered was Ukrainian which was $3.92 MT less than the lowest Russian offer. The “average” FOB price paid for the offers that were accepted was $202.02/MT, $0.67/MT above…
Summary: China’s “spot” soybean crushing margin today is -136 Yuan/MT, up 12 Yuan from a week ago. The “forward” margin is -165 Yuan/MT, down 21 Yuan from a week ago. But, the forward margin is 36 Yuan above what it was a year ago. In the July WASDE, the USDA left its projection of China’s soybean imports unchanged at 85…
Summary: For the period Jul 13-Jul 19, the ship lineup shows that Brazil exported 1.54 MMT of corn. That is 171,000 MT less than the previous week but it is 950,000 MT more than what was shipped a year ago. For comparison, US export inspections last week were 438,000 MT. Argentina’s exports were 1.21…
Summary: Brazil shipped 1.16 MMT of soybeans last week. That’s down from the previous week’s 1.87 MMT and 836,000 MMT smaller than a year ago. In the July WASDE, the USDA left their projection for Brazil’s exports unchanged at 69.0 MMT (on a Feb-Jan marketing year) – – down 18.0% YoY. As of Jul 19, export commitments…
Summary: Next week ’s soybean export inspections are expected to be 650,000 MMT (31.4 Mil Bu). If this is correct, that would be down 24% from the previous week. This week’s ship lineup is 1.591 MMT. That is up 2% from last week, more than two-and-a-half times larger than a year ago. There were 34 vessels to-be-nominated (TBN). That is up sharply from last…
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