Bottom Line: Today we’ll find out if USDA will be able to release its scheduled Winter Wheat Seedings report on January 11. Whenever the USDA finally does release its report it will likely be below the trade’s expectations. Eighty-nine percent of the time the industry’s average estimate for USDA’s January Winter Wheat Seedings Report has been too…
Summary: China’s “spot” soybean crushing margin today was –29 Yuan/MT, down from last week’s 4. The “forward” margin was 13 Yuan/MT vs last week’s -9 Yuan/MT. In addition, the forward margin was 36 Yuan above what it was a year ago. Four 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,…
Summary: For the period Dec 22-Dec 27, the ship lineup shows that Brazil exported 678,000 MT corn. That is up 52,000 MT from the previous week and 140,000 MT more than what was shipped a year ago. For comparison, US export inspections were 914,000 MT. Brazil’s ship lineup shows that 4.18 MMT are estimated to have…
Summary: Brazil shipped only 199,000 MT of soybeans last week. That’s down from the previous week’s 505,000 MT and it is below a year ago. According to cargo services data, Brazil’s export “commitments” rose to 84.89 MMT. This is a record for this date. In the Dec WASDE, the USDA raised their projection for Brazil’s exports by 3.0…
Summary: US ethanol production was down slightly this past week. More significantly, ethanol stocks dropped 3.3%. It is estimated that blender demand was up about 1%. The futures-based producer margin appears to have stabilized but blender margins slipped to break-even and are the lowest in 16 months. The spread between Brazilian and US ethanol prices remains…
Contact
submission
You have successfully added an item to your cart! You may view the contents of your cart and proceed with checkout, or continue shopping.
Multiuser
subscription
How many users would you like to add?
