Feed Ingredients Report: Week Ending Aug. 3, 2018
Weekly Average Price History
Week
|
Corn
|
Soybeans
|
Wheat SRW
|
Aug. 5, 2018
|
3.68
|
8.91
|
5.55
|
July 29, 2018
|
3.68
|
8.91
|
5.55
|
July 22, 2018
|
3.58
|
8.64
|
5.27
|
July 15, 2018
|
3.48
|
8.47
|
5.00
|
- The trade relationship between the United States and Europe is improving, German Agriculture Minister Julia Kloeckner said on Saturday. However, there is no guarantee the bloc will buy the quantity of soybeans that Washington expects as reported by Reuters.
- China, paying a $47-$57 per metric ton premium for South American beans vs. U.S. beans, slowed its soy buying pace appreciably last week (2 cargoes). USDA pegs 2018/19 Chinese soy imports at 95 mmt vs. 97 mmt 2017/18.
- The EU claimed they imported 283% more U.S. soybeans in the first 5 weeks of their marketing year than a year ago. U.S. prices were cheaper than South American beans throughout the period due to the U.S.-China trade war.
- The U.S. crushed 169.6 million bushels of soybeans in the month of June, very close to the number implied by previously-released NOPA data. That crush was 14% bigger than a year ago and likely keeps the U.S. on pace to hit the USDA’s soybean crush estimate of 2.03 bln bu.
- The U.S. farmer likely stays inactive with the soybean board below $9. He is waiting for more details on USDA payments and hopeful for a trade deal.
- The U.S. used 463 million bushels of corn and 7.6 million bushels of sorghum in ethanol production in the month of June, close to what had been implied by the weekly reports on ethanol productions.
- Wheat price gains this week have been fueled by trade expectations for 8 million metric ton cut vs. USDA in EU wheat crop, a 2 million metric ton cut in Australian crop and a 1 million metric ton+ cut in the U.S. spring wheat crop. Traders hold varied opinions on the Canadian wheat crop with some affirming USDA’s July forecast of 32.5 million metric tons, while others looking for 2 million metric ton cut.
Comments
Post a Comment