Summary: Brazil shipped 2.77 MMT of soybeans last week. That’s up from the previous week’s 2.57 MMT and more than last year. In comparison, there were no exports from Argentina and US exports were 533,000 MT. Brazil’s export “commitments” rose to 38.43 MMT, 2.83 MMT above last year. This is a record for this date. In…
Summary: Next week ’s export inspections is expected to be 550,000 MT (20.2 Mil Bu). If this is correct, that would be down from the previous week’s 679,000 MT. This week’s ship lineup is 605,000 MMT. That is up 27% from last week (which was a season low 476,000 MT). This week’s lineup is a third larger than last year. There were 22 vessels to-be-nominated…
Summary: In the Apr WASDE, the USDA lowered their projection for EU wheat exports by another 1.0 MMT to 24.0 MMT (vs 27.32 MMT last year). The EU is usually the world’s second largest wheat exporter. In 2014/15, the EU exported a record 35.5 MMT in 2014/15. The Former Soviet Union (FSU) is projected to…
Summary: US ethanol production jumped nearly 5% this week. Blender use was up 1% but stocks increased 2%. US ethanol exports to Brazil are no longer competitive, at least as long as Brazil maintains a 20% tariff on imports. There’s more ferment in Washington as the EPA has issued waivers to more refiners. In addition, E15…
Summary: China’s markets were closed Mon-Tue for Labour Day (Apr 30-May 01). On Friday (Apr 27) China’s “spot” soybean crushing margin was -134 Yuan/MT, down from the previous week’s -3. The “forward” margin was -126 Yuan/MT, 131 less than the prior week. However, the forward margin was only 13 Yuan below what it was the previous year. China’s April imports are…
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