Summary: For the period Jan 12-Jan 18, the ship lineup shows that Brazil exported 943,000 MT corn. That is up 213,000 from the previous week and 377,000 MT more than what was shipped a year ago. For comparison, US export inspections were 1,108,000 MT. Argentine corn exports last week were 198,000 MT. Brazil’s ship lineup shows…
Summary: Brazil shipped just 130,000 MT of soybeans last week. That’s down from the previous week’s 342,000 MT and it is below a year ago. According to cargo services data, Brazil’s old-crop export “commitments” were 85.93 MMT. That is up by a surprisingly large 500,000 MT from the previous week. We suspect that some of the increase…
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 20% from the previous week’s. This week’s ship lineup is 859,000 MT. That is down 35% from last week. This week’s lineup is 35% smaller than a year ago. There were 52 vessels to-be-nominated (TBN). That is up from last week and is the largest…
Summary: US ethanol production was up 5% following declines in the previous two weeks. Despite the surge in production, ethanol stocks rose slightly less than half-a-percent. It is estimated that blender demand was up nearly 6% following a 6% decline the previous week. The futures-based producer margin improved and is nearly at break-even. Some measures of “cash-based”…
Summary: China’s “spot” soybean crushing margin today was 85 Yuan/MT, up from last week’s 62. The “forward” margin was 29 Yuan/MT vs last week’s 19 Yuan/MT. In addition, the forward margin was 100 Yuan above what it was a year ago. Five months ago, the forward margin fell to its lowest level in 4 years. In the USDA’s December WASDE, China’s import projection was left unchanged at 90 MMT. However,…
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