The February 2022/23 U.S. corn outlook is for a slight reduction in the domestic use of corn and increased ending stocks compared to January estimates. USDA lowered forecast corn used for ethanol by 25 million bushels and raised ending stocks by the same.
The 2022/23 U.S. soybean outlook this month is for unchanged supply and exports, but soybean crush is lowered 15 million bushels from last month, which was added to ending stocks.
This month’s 2022/23 U.S. wheat outlook is unchanged except for a slight increase in domestic use and ending stocks. Food is reduced to 975 million bushels while wheat seed is up 1 million bushels to 70 million bushels. Ending stocks are increased by 1 million bushels to 568 million bushels.
The U.S. sugar outlook for February 2022/23 is for reduced supply, unchanged use, and reduced ending stocks. Ending stocks were down by 11 thousand short tons.
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