Summary: Today, Egypt’s GASC purchased 350,000 MT of wheat from Russia and Ukraine. Unlike the previous two tenders, no wheat was purchased from the U.S. Two weeks ago they purchased 60,000 MT each from Russia and Romania and 120,000 from the U.S. The average CIF price that Egypt paid for the wheat was $253.51/MT. That is…
Summary: In their Nov WASDE, the USDA lowered the projection for world wheat exports by 1.6 MMT to 179.2 MMT (vs 182.6 MMT last year). This was the sixth month in a row that the export projection was lowered. ARC estimates that the Jul-Nov cumulative exports of the Big-8 wheat exporters at 64.3 MMT. That’s…
Summary: China’s “spot” soybean crushing margin today was 85 Yuan/MT, down from last week’s 156. The “forward” margin was 112 Yuan/MT vs last week’s 185 Yuan/MT. However, the forward margin was 107 Yuan above what it was a year ago. Three months ago, the forward margin fell to its lowest level in 4 years. In the USDA’s November WASDE, the projection for 2018/19 was lowered 4 MMT to 90…
Summary: For the period Nov 24-Nov 30, the ship lineup shows that Brazil exported 770,000 MT corn. That is down 85,000 MT from the previous week and 214,000 MT less than what was shipped a year ago. For comparison, US export inspections were 1,035,000 MT. Argentina’s corn exports last week are estimated to have been 300,000…
Summary: USDA is projecting Ukraine’s corn yield this year to be 7.44 MT/HA (118.5 Bu/Ac). That’s up 7.9% from the previous projection, is a record, and it is up 36.7% from last year’s yield. However, the most recent corn harvest report shows this year’s cumulative average yield is 42.3% above a year ago. This result suggests that…
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