Summary: As of Feb 14, China’s “spot” soybean crushing margin was 307 Yuan/MT, down 101 Yuan from two weeks ago. The “forward” margin was 218 yuan/MT, down 104 Yuan from a week ago. However, the forward margin is 219 Yuan above what it was a year ago. Domestic soyoil’s price slipped 0.2%. Domestic soymeal price lost 0.4%.…
Summary: Last week (Feb 10) Brazil exported 1.21 MMT of corn, up 234,000 MT from the previous week. Argentine exports were 306,000 MT. Shipments from Ukraine were 867,000 MT. US corn exports were 512,000 MT. Brazil’s total corn export “commitments”, for the local marketing year, are 49.00 MMT vs 20.77 MMT last year. Brazil’s corn “commitments”…
Summary: Next week’s soybean export inspections could be 1.92 MMT (71 MBU). That would be up 5% from the previous week. This week’s US soybean ship lineup is estimated to be 1.27 MMT (47 MBU), down 40% from the previous week. There were 34 vessels to-be-nominated (TBN). That’s up 2 from the previous week. USDA left their projection for…
Soybean exports were up 1.25 MMT from the previous week. And cumulative soybean exports are up 2.7% from a year ago but we are only four months into the international marketing year. USDA projects total global soybean exports to be up 8.8% from a year ago. USDA’s February projection was lowered 0.4% from the previous month.…
Summary: US ethanol production slip 2.6%. That was a bit more of decline than the trade had expected. Ethanol stocks were down fractionally whereas the trade was looking for a 2.3% increase. ERS in a just released report indicated that US ethanol demand is likely to fall due to new car fuel efficiency and the…
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