Summary: USDA is projecting Ukraine’s corn yield this year to be 6.89 MT/HA (109.8 Bu/Ac). That’s unchanged from last month’s projection but it is a record and up 26.6% from last year’s yield. However, the most recent corn harvest report shows this year’s cumulative average yield is 29.4% above a year ago. However, with only 25% of…
Summary: US ethanol production was down 2% this past week. However, it is estimated that blender demand rose 1.5% but would likely have been higher but for the continued effect of disruptions caused by Hurricane Florence. Ethanol stocks unexpectedly jumped 3.6%. Ethanol producer margins are back above break-even while blender margins are near 4-year highs. The spread between Brazilian…
Summary: If INTL FCStone’s corn estimate is too high, the median error (in years when the INTL FCStone estimate was too high) was 1.1%. Based on INTL FCStone’s estimate of 14,940 Mil Bu, that would equate to about 169 Mil Bu less – – or 14,771 Mil Bu. Last year, INTL FCStone’s estimate was 1.1%…
Summary: For the period Sep 22-28, the ship lineup shows that Brazil exported 793,000 MT corn. That is 38,000 MT less than the previous week and 161,000 MT LESS than what was shipped a year ago. In comparison, US corn exports were 1.34 MMT last week. Brazil’s ship lineup shows that, so far, only 2.17 MMT are expected…
Summary: Brazil shipped 1.14 MMT of soybeans last week. That’s down from the previous week’s 1.65 MMT but it is well above a year ago. Brazil’s export “commitments” rose to 74.65 MMT. This is a record for this date. In the Sep WASDE, USDA pegged Brazil’s exports at 74.775 MMT (on a Feb-Jan marketing year). That is…
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