Bottom Line: Last week, Brazil exported 308,000 MT of corn last week. For comparison, Argentina exported 310,000 MT and the US exported 835,131 MT. Brazil’s corn exports are up from the previous week and are well above the amount that was shipped in the same period last year. Brazil’s corn export “commitments” were estimated to be 32.23 MMT…
Bottom Line: Last Friday, Egypt’s GASC purchased 360,000 MT of wheat. The average CIF price paid was $222.08/MT . That is the highest price paid in two-and-a-half years. Russia accounted for 240,000 MT and the other 120,000 MT was Romanian. On a FOB basis, the average price paid was $207.97/MT, up $4.00/MT from the last tender (on Feb…
Bottom Line: Last week, Brazil shipped 1.05 MMT of soybeans. That’s more than the previous week’s 445,000 MT and above last year’s 770,000 MT. In comparison, the US shipped 1.319 MMT while Argentina shipped none. Brazil’s “new-crop” export commitments increased by 1.64 MMT last week. New-crop commitments are now 8.25 MMT, down 8.9% from last year. In the…
Bottom Line: At yesterday’s close, July corn futures was up about 1 cent from what it was the day before the USDA reports. A model of corn futures price, based off the February WASDE’s stocks/use projection, suggests that futures prices could drop 25 cents by next Thursday. However, the current price is within one standard error of…
Bottom Line: Our point estimate for next week’s export inspections is 1.3 MMT (48 Mil Bu). If this is correct, that would be unchanged from last week. This week’s ship lineup is 1.905 MMT. That is down 17% from last week and above last year’s 1.631 MMT. There were 31 vessels to-be-nominated (TBN). That is a record for this year, 6 more than last week, and…
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