Summary: China’s “spot” soybean crushing margin today was 156 Yuan/MT, down from last week’s 211. The “forward” margin was 186 Yuan/MT vs last week’s 240 Yuan/MT. The forward margin was also 231 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 17-Nov 23, the ship lineup shows that Brazil exported 856,000 MT corn. That is down 106,000 MT from the previous week but 185,000 MT MORE than what was shipped a year ago. For comparison, US export inspections were 1,118,000 MT. Argentina’s corn exports last week are estimated to have been 202,000 MT. …
Summary: Brazil shipped 1.0 MMT of soybeans last week. That’s down from the previous week’s 1.41 MMT but it is well above a year ago. Brazil’s export “commitments” rose to 82.08 MMT. This is a record for this date. In the Nov WASDE, the USDA raised their projection for Brazil’s exports by 3.075 MMT to at 77.85 MMT (on a…
Summary: China’s “spot” soybean crushing margin today was 205 Yuan/MT, up from last week’s 129. The “forward” margin was 235 Yuan/MT vs last week’s -7 Yuan/MT. The forward margin was also 258 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…
Summary: For the period Nov 10-Nov 16, the ship lineup shows that Brazil exported 929,000 MT corn. That is 37,000 MT more than the previous week but 253,000 MT LESS than what was shipped a year ago. For comparison, US export inspections were 798,000 MT. Brazil’s ship lineup shows that 4.18 MMT are expected to ship in Nov. …
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