Summary: For the 6-days ending Mar 29 the ship lineup shows that Brazil exported no corn. For the entire month of March, ship lineup data shows exports totaled 239,000 MT. SECEX’s “official” exports for the month (released yesterday) were 605,000 MT. We believe that the higher figure reported by SECEX for cumulative March corn exports…
Summary: Last week, Brazil shipped 2.27 MMT of soybeans. In comparison, the US shipped 0.54 MMT. Brazil’s shipments this past week were down from the previous week’s 2.45 MMT but a bit above last year’s 2.23 MMT. Brazil’s export “commitments” rose to 26.18 MMT, 1.3 MMT above last year. This is a record for this…
Summary: Ethanol production was down 1% this past week. Ethanol stocks fell 4%, more than the 2% decline expected by some analysts. Surprisingly, blender use was off 2% whereas, in most years, blender use rises at this time of year. USDA noted that Brazil’s 20% tariff on ethanol imports in excess of 159 Mil Gal has…
Summary: There could be a surprise in tomorrow’s reports. If there is a surprise, it will most likely be due to corn stocks being significantly larger/smaller than trade expectations. However, the market’s response may be muted because much of the market’s attention is focused on the continuously changing estimates of the S. American crops. Traditionally,…
Summary: For the week ending Mar 23 ship lineups show that Brazil exported 61,000 MT. Since the beginning of the month, ship lineup data shows exports have totaled 239,000 MT. SECEX’s cumulative exports for the first 12 working days of March (out of a total of 22 days) shows exports of 553,000 MT. We believe…
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