China’s average domestic corn price rose RMB 14/MT ($2.03/MT) to RMB 1,632/ MT ($237.20/MT) last week, driven by tight supplies of new corn and several other factors.
OIlseeds Soymeal Inventories Continue to Fall Through Mid-April Despite inflows of imported soybeans, China’s estimated soymeal inventory stood at only 626,500 MT through 14 April. This follows four straight weeks of declines totaling 177,600 MT (-22.1 percent), including a drop of 85,000 MT (-11.95 percent) within just one week in April. It is also 296,900 MT less (-32.15 percent) than the total of a year ago at the same point. By comparison, the national total at the end of the final full week of February 2017 was 938,200 MT. In the North and Shandon...
What You Need to Know Today: After a period of limited activity, USDA reported a sizeable 613 KMT in soybean export sales, including 330 KMT to China and 283 KMT to unknown destinations, potentially also China. The purchases represent a meaningful pickup in demand and bring China closer to ful...
Inflation is back in the driver’s seat, and agriculture is getting pulled in two directions. A stronger dollar is pressuring grains despite fresh Chinese buying, while renewed Middle East attacks lift crude oil. Higher energy prices can support commodities, but they also raise expenses an...