USDA ups 2022/23 world corn carryout forecast by nearly 2.5 MMT

In the July WASDE, USDA raised its 2022/23 world corn ending stocks by about 2.5 MMT to 312.9 MMT, up slightly from carryout this season. World corn production was raised some 100,000 MT to nearly 1.186 billion MT, down roughly 32,000 MT from the [...]

Wild bullish week for soy complex

Futures activity May-22 soybean meal futures ended last week at $458.80 per short ton, down 1.5 percent from Monday’s close. The May soybean oil contract set a new high of $0.8326 per pound. S&D and fundamental factors The Rosario Grain Exchange raised its 2021/22 [...]

WASDE: Higher corn & soybean ending stocks

In the January WASDE, USDA increased its 2021/22 U.S. corn production estimated to 15.115 billion bushels, up 53 million bushels from the December estimate. USDA raised 2021/22 corn ending stocks to 1.540 billion bushels, up 47 million bushels from the previous forecast. Corn exports [...]

WASDE: Modest changes to world grain production

In the December WASDE, USDA made no changes to either the U.S. corn or soybean balance sheets. U.S. wheat 2021/22 ending stocks saw a slight increase as exports were cut 20 million bushels to 840 million bushels, and imports were lowered from 115 to [...]

Industry sees U.S. corn production up, soybean down

Ahead of Monday’s July WASDE, the industry is expecting 2021/22 U.S. corn production up by over 117.5 million bushels from the previous forecast as higher acreage more than offsets a slight drop in yield. The industry also expects USDA to lower its 2020/21 corn [...]

Soybeans & meal turn bearish

A lackluster WASDE and higher production in Brazil helped to pressure soybean futures last week. May-21 soybeans lost about $0.20 per bushel over the course of the week as Brazil revised its production estimate higher: Its crop could be large enough to cover losses [...]

March WASDE: U.S. corn balance sheet unchanged

USDA made no changes to the 2020/21 U.S. corn balance sheet in the March WASDE. Ending stocks remain forecast at a multiyear low of 1.502 billion bushels, exports at record 2.600 billion bushels, and domestic use at 12.025 billion bushels, a five-year low.   Globally, 2020/21 corn ending stocks rose by about 1.1 [...]

Industry expects smaller corn, soybean crops in WASDE

The average industry estimate for corn and soybean production is 14.823 billion bushels and 4.288 billion bushels, respectively. At these levels, the corn crop would still be the second largest on record, while soybean production would be the fourth largest on record. The trade [...]

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