Summary: Next week ’s soybean export inspections are expected to be 1,300,000 MT (47.8 Mil Bu). If this is correct, that would be up 26% from the previous week. This week’s ship lineup is 1,978,000 MT. That is down 23% from last week which was the highest for this season. But, this week’s lineup is 29% larger than a year ago. There were 23 vessels to-be-nominated (TBN). That is…
Summary: US ethanol production slipped 3.3% following a 10% surge the previous week. Despite the drop in production, ethanol stocks rose nearly 2% after declining nearly the same amount the previous week. Blender demand is estimated to have risen slightly. Stocks remained above the levels they were at in each of the last two years. Ethanol producers…
Summary: Today, Egypt’s GASC purchased 360,000 MT of wheat from the France, Romaina, Ukraine and Russia (for delivery in early April). Finally, after missing out on the last two tenders, Russia was able to sell one vessel. However, no offers of US HRW or SRW were made. This is the third time in a row that…
Summary: China’s “spot” soybean crushing margin today was -80 Yuan/MT, down from last week’s 90. The “forward” margin was -153 Yuan/MT vs a week ago when it was 36 Yuan/MT. The forward margin was 62 Yuan below what it was a year ago. Six months ago, the forward margin fell to its lowest level in 4 years. In the USDA’s February WASDE, China’s import projection was…
Summary: For the period Feb 08-Feb 15, the ship lineup shows that Brazil exported 203,000 MT corn. That is down 189,000 from the previous week but it is 203,000 MT above what was shipped a year ago. For comparison, US export inspections were 942,000 MT. Argentine exports were 244,000 MT. Brazil’s ship lineup shows that 1.11…
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