Oilseeds Soymeal Inventory Ends 2017 With Fourth Straight Weekly Increase China’s nationwide estimated soymeal inventory continued to rise for four straight weeks, reaching 924,300 MT as of 29 December. This amounts to a weekly increase of 32,500 MT (+3.6 percent) and a two-week expansion of 118,100 MT (+14.6 percent). The total was also 367,600 MT (+66 percent) higher than the same week in 2016. At the regional level, inventories dropped in just two areas, falling 6,100 MT (-18 percent) to 27,700 MT in North China and 15,200 MT (-13.4 percent) to 98,600 MT in Shandong Province. This was the third consecutive week of a decrease in the former and the second week for the latter as inventories everywhere else continued to climb.
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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...
Key Takeaways: Consumer spending is a key driver of the U.S. economy, and the latest retail sales data indicate that spending remains robust despite inflation. In September, total retail and food service sales rose more than 6 percent year-over-year, with food service spending up 7 percent and...
The Trump import plan for 300,000 MT of beef supplies used for ground beef, i.e., lean trim, from September through November has, according to Secretary Brooke Rollins, brought some relief to beef prices. The Executive Order states that the Secretary of Agriculture will analyze and review the m...
