This month’s WASDE revealed unsurprising developments for ingredient markets.

The April 2022/23 U.S. corn outlook is for reductions to imports and food, seed, and industrial (FSI) use, with unchanged ending stocks. Corn imports are lowered 10 million bushels based on observed trade to date.

U.S. soybean supply and use forecasts for 2022/23 are unchanged relative to last month. Global 2022/23 soybean supply and demand forecasts include lower production, crush, and exports.

This month’s 2022/23 U.S. wheat outlook is for slightly higher supplies, reduced domestic use, unchanged exports, and increased ending stocks. The global wheat outlook for 2022/23 is for increased supplies, higher consumption, and reduced trade and stocks.

U.S. sugar supply is increased by 176,692 short tons, raw value (STRV) to 14.637 million on imports from last month. Because sugar use is unchanged, ending stocks rise by the full extent of the supply increase to 1.897 million STRV, resulting in a higher ending stocks-to-use ratio at 14.89 percent.

Further data and analysis of this month’s WASDE are available to our IQ subscribers. Log in to read more.

Posted by: Information Services
Our Information Services team assists our clients with understanding commodity and ingredient market dynamics. Using our extensive database of intelligence, we also produce regular commodity and commercial market publications covering supply and demand fundamentals, news alerts on events that shape the markets, and resource guides to give you a complete picture of the industries we monitor.