Bottom Line: Today’s July soybean futures close was $10.48 (down about 28 cents from what it was the day before the USDA’s Mar WASDE). A model of soybean futures price, based off the March WASDE’s stocks/use projection and July corn futures, implies that today’s price still has a “risk premium” of about $1.42/Bu. Today’s price is more than…
Summary: Our point estimate for next week’s export inspections is 1.025 MMT (38 Mil Bu). If this is correct, that would be up 4% from last week. This week’s ship lineup is 701,000 MMT. That is down 27% from last week, the smallest in 27 weeks, but a bit below last year’s 701,000 MMT. There were 19 vessels to-be-nominated (TBN). That is 6 less than last week,…
Bottom Line: Today at 5:00 AM, CONAB lowered their corn production estimate 0.73 MMT (0.8%). They lowered area fractionally and cut their estimate of yields by 0.6%. In recent years (other than two years ago) Brazil’s Safrinha crop accounted for two-thirds of total production. Some analysts were expecting a even lower Brazil “all” corn crop. …
Bottom Line: According to the USDA’s calendar, Brazil’s new-crop corn marketing year begins Mar 01. As of Mar 02, Brazil’s corn export “commitments” were estimated to be 314,000 MT. That’s up from last year’s 103,000 MT. Official SESEX exports for February were 1.25 MMT. That brings the Mar-Feb yearly total up to 31.6 MMT. USDA’s Feb…
Bottom Line: Today, Egypt’s GASC purchased 175,000 MT of wheat. The average CIF price paid was $230.66/MT. That is the highest price paid in three years. Russia accounted for all the business. On a FOB basis, the average price paid was $214.35/MT, up $6.35/MT from the last tender (on Feb 21). In its Feb WASDE report the USDA left its…
Contact
submission
You have successfully added an item to your cart! You may view the contents of your cart and proceed with checkout, or continue shopping.
Multiuser
subscription
How many users would you like to add?
