Summary: Next week ’s soybean export inspections are expected to be 495,000 MT (18.2 Mil Bu). If this is correct, that would be down fractionally from the previous week. This week’s ship lineup is 575,000 MT. That is down 6% from last week, and it is 9% smaller than a year ago. A month ago saw the smallest lineup so far this season. There were 29 vessels…
Summary: This week, old-crop US corn export sales rose 442,100 MT (183,900 MT for new-crop). Old-crop sales were a bit above the average of the range of industry expectations. In the May WASDE, the USDA left their projection of US exports unchanged at 2,300 Mil Bu (vs. last year’s record 2,438 Mil). At this time,…
Summary: In the May WASDE, the USDA boosted its projection of EU corn imports by 1 MMT to 23.5 MMT. The EU is projected to be the world’s largest corn importer this year with EU imports being the highest in 38 years. With nearly eight months (Oct-May) of the international marketing year (Oct-Sep) completed, EU…
Summary: US ethanol production rose nearly 2% making this the third week in a row that production was up. Production also set a high for this season. Blender demand was estimated to have declined by a fraction. Ethanol stocks jumped 5.2%. Ethanol producers’ margins on May 22 were 9 cents/gln, down sharply from the previous week’s…
Summary: China’s “spot” soybean crushing margin today is 20 Yuan/MT, down 2 Yuan from a week ago. The “forward” margin is 15 Yuan/MT, up 10 Yuan from a week ago. In addition, the forward margin is 270 Yuan above what it was a year ago. In the May WASDE, the USDA lowered its projection of China’s soybean imports by 2 MMT…
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