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| 16 mbu more soybeans were exported last week than in the same week 1 year ago. If you are a demand bear, the next 6 weeks are critical. For exports to come in at or below USDA estimates, inspections the next two weeks need to average less than 55 mbu/week. (Last week the US shipped 64 mbu.) Plus, the month of March will need to see < 100 mbu leave our shores. Basically what we shipped back in '06 & '07.
The thing to watch is how congested SA ports are. Even with SA Soy price below US pxs after paying demurrage it could be cheaper/faster to load higher priced US beans in March.
Edited by Bengal Stripes 2/18/2016 07:41
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Inspections - good
