Bottom Line: At yesterday’s close, July soybean futures was nearly $9.50. A model of soybean futures price, based off the trade’s average expectation for the February WASDE’s stocks/use projection, suggests that futures prices should be $2 lower. After tomorrow’s reports are fully digested by the market, further changes in prices will probably be triggered by “new information” regarding…
Summary: For the period Jan 26-Feb 01, the ship lineup shows that Brazil exported 396,000 MT corn. That is down 120,000 from the previous week but is 308,000 MT more than what was shipped a year ago. For comparison, US export inspections were 901,000 MT. Argentina shipped 723,000 MT for the week. Brazil’s ship lineup shows that…
Summary: Brazil shipped 817,000 MT of soybeans last week. That’s up from the previous week’s 616,000 MT and it is above a year ago. According to SESEX official data, Feb-Jan exports were 84.24 MMT. In the Dec WASDE, the USDA raised their projection for Brazil’s exports by 3.0 MMT to 80.85 MMT (on a Feb-Jan marketing year). To…
Summary: Next week ’s soybean export inspections are expected to be 1,035,000 MT (38.0 Mil Bu). If this is correct, that would be up 11% from the previous week’s. This week’s ship lineup is 1,863,000 MT. That is up 75% from last week. This week’s lineup is 19% smaller than a year ago. There were 32 vessels to-be-nominated (TBN). That is down 21 from last week but is the…
Summary: As of the end of January, various official reports and ship lineups shows that the major wheat exporting countries have shipped 92.4 MMT. That’s down 2.8 MMT (2.9%) from last year’s record. The Big-8 wheat exporters (Arg/Aus/EU/Kzh/Ukr/Rus/Can/US) are projected to capture 89.9% of world exports this year (vs 90.5% last year). Pace analysis indicated…
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