Summary: US ethanol production was up just over 1% after being up slightly the previous week. Blender demand was estimated to have risen about half-a-percent. But, ethanol stocks dropped 2.2%, making this the third week in a row that inventories have shrunk. Ethanol producers’ margins were around 25 cents/gln, up about 5 cents from a week…
Summary: In their Apr WASDE, the USDA raised their projection for EU wheat exports by another 1 MMT to 24.0 MMT (vs 23.29 MMT last year). In recent years, the EU has been the world’s second largest wheat exporter. In 2014/15, the EU exported a record 35.5 MMT. This year, the Former Soviet Union (FSU)…
Summary: China’s “spot” soybean crushing margin today is -267 Yuan/MT, up from last week’s multi-year low. The “forward” margin is -90 Yuan/MT vs a week ago when it was -152 Yuan/MT. However, the forward margin is 74 Yuan below what it was a year ago. In the Apr WASDE, the USDA left its projection of China’s soybean imports unchanged at 88 MMT. Last…
Summary: For the period Apr 06-Apr 12, the ship lineup shows that Brazil exported just 29,000 MT of corn. That is down 125,000 MT from the previous week but it is 29,000 MT more than what was shipped a year ago. For comparison, US export inspections last week were 1,182,000 MT. Argentina’s shipments were 1,170,000…
Summary: Brazil shipped 2.38 MMT of soybeans last week. That’s down from the previous week’s 2.57 MMT and 466,000 MT smaller than a year ago. In the Apr WASDE, the USDA left their projection for Brazil’s exports unchanged at 69.5 MMT (on a Feb-Jan marketing year) – – down 17.5% YoY). As of Apr 12, export commitments were…
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