Summary: Brazil shipped 2.62 MMT of soybeans last week. That’s down from the previous week’s 2.96 MMT but above last year’s 2.31 MMT. Brazil’s export “commitments” rose to 33.62 MMT, 2.36 MMT above last year. This is a record for this date. Safras boosted their projection for Brazil’s exports in their Jan-Dec local marketing year 0.5 MMT…
Summary: Next week ’s export inspections is expected to be 540,000 MT (19.8 Mil Bu). If this is correct, that would be up from last week’s 445,000 MT. This week’s ship lineup is 619,000 MMT. That is 24% above last week’s lineup. This week’s lineup is nearly double last year’s 421,000 MMT. There were 23 vessels to-be-nominated (TBN). That is 10 less than last week, but…
Summary: EU corn imports are on track to reach 16.2 MMT, the highest in 36 years. Six–and-a-half months into the 2017/18 marketing year, cumulative EU corn imports are estimated to be 10.45 MMT. That is nearly two-thirds of the 16.2 MMT that USDA’s projects for the entire Oct-Sep marketing year. 2017/18 imports are projected to…
Summary: Russian grain exports (wheat, barley and corn) are running at a record pace and are poised to exceed the USDA’s projection of 48.02 MMT. In eight-out-of-the-last-nine months, grain exports set new monthly records. Shipments to-date for April suggest that this month’s exports will be about 4.8 MMT (nearly double the previous record for April…
Summary: China’s “spot” soybean crushing margin was down from a week ago. Today’s spot margin is -29 Yuan/MT. However, the “forward” margin is +12 Yuan/MT. Also, the forward margin is 71 Yuan above what it was a year ago. China’s April imports are projected to be 9-10 MMT. Ship lineups so far this month suggest that May imports will be…
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