RayJenkins - 10/20/2015 16:08


from Halo Commodities:

One quick note on export inspections from yesterday, soybean inspections were 86.9mbu vs. 69.7mbu last week and the 31.2mbu needed weekly to hit the USDA’s export projection. Interestingly, total shipments for this year now measure 252.1mbu vs. 219.5mbu last year, a 14.8% increase even though export sales continue to run about -20% below a year ago. Much of this is likely due to the tight old crop situation coming off 2012/13 and the inability to get supplies into exportable position. Also worth noting that last year saw shipments of 74.3mbu during this week and was followed by weeks of 83, 102, 91, 115 and 105mbu in the subsequent 5-week stretch. Daily sales announcements have been picking up, but still remain well behind a year ago as China continues to opt for cheaper stem out of South America.