Summary: For the period Mar 16-Mar 22, the ship lineup shows that Brazil exported just 163,000 MT of new-crop corn. However, that is up 111,000 MT from the previous week and it is 101,000 MT more than what was shipped a year ago. For comparison, US export inspections were 995,000 MT. Argentina’s shipments were 924,000…
Summary: Brazil shipped 1.94 MMT of soybeans last week. That’s down from the previous week’s 2.063 MMT and 292,000 MT smaller than a year ago. In the Mar WASDE, the USDA lowered their projection for Brazil’s new-crop exports by 0.5 MMT to 69.5 MMT (on a Feb-Jan marketing year) – – down 17.5% YoY). As of Mar 22, export…
Summary: Next week ’s soybean export inspections are expected to be 750,000 MT (27.6 Mil Bu). If this is correct, that would be down 11% from the previous week. This week’s ship lineup is 1,133,000 MT. That is up 5% from last week, and it is 73% larger than a year ago. There were 29 vessels to-be-nominated (TBN). That is down from last week and less than…
Bottom Line: In the Mar WASDE, the USDA left their projection for US soybeans at 1,875 Mil Bu, down from last year’s 2,129 Mil Bu. A simple “pace analysis” model suggests that final US soybean exports may be a couple hundred million bushels lower than what USDA projects. Similarly, soymeal imports could be 5-6% smaller than…
Summary: US ethanol production slipped at tad – – -.01%, less than what some analysts had expected. Blender demand was estimated to have dropped about 1.5%. Stocks jumped nearly 3%. Ethanol producers margins were around 42 cents/gln, up sharply from last week and the highest since early August. Blender margins also rose this past week but…
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