December grain stocks below expectations

USDA estimates of corn, soybean, and wheat stocks as of Dec. 1 were all a bit lower than forecasts ahead of yesterday's Grain Stocks report: Corn stocks were 3 percent lower than expected, soybeans 2.5 percent lower, and wheat 1 percent. For corn and [...]

Quiet December WASDE

USDA’s December supply and demand update delivered no changes to the balance sheet for U.S. 2022/23 wheat and soybeans and a modest adjustment to corn exports. Wheat ending stocks for this marketing year are still projected at 571 million bushels, and soybean stocks are [...]

October WASDE mismatched with industry expectations for corn, soybean stocks

Today’s S&D update from USDA showed higher corn and lower soybean stocks than anticipated, although wheat numbers were more aligned with expectations. Predictably, soybean futures are seeing a bullish session as a result, while the corn market is showing uncertainty with a slightly bearish [...]

Quarterly grain stocks report surprises market

The September Grain Stocks report showed 2021/22 ending stocks for corn at 1.377 billion bushels, down 148 million bushels from the estimate in the September WASDE. The corn futures market responded vigorously, rising to a high of $6.9625 per bushel. USDA lowered 2021/22 corn [...]

Soybean export sales, shipments slow further

Export sales and shipments of 2020/21 soybeans were both on the low side the week of Mar. 18. Sales were offset by 152,500 MT of reductions for unknown destinations, a slightly higher level of cancellations than we saw over the previous couple weeks. Exports [...]

Lower U.S., global soybean stocks

Soy complex futures closed on Friday nearly flat with the week’s start. Last Thursday’s WASDE report reflected a smaller-than-expected downward revision in U.S. soybean stocks, leaving the market little to get excited about. Global soybean stocks were lowered by about 1 MMT. The only [...]

WASDE: 2019/20 corn, soybean stocks rise slightly

The June WASDE features few major changes to the overall corn outlook. Ethanol demand in 2019/20 was reduced by 50 million bushels to 4.900 billion bushels. This was partially offset by 2019/20 production falling by 46 million bushels, mainly due to unrecovered corn in [...]

Corn stocks reported below industry estimate

As of Mar. 1, 2020, U.S. corn stocks were just over 7.95 billion bushels, down roughly 8 percent YOY and below trade expectations. A stocks figure under the industry estimate may suggest that 2019/20 production was lower than reported. Soybean stocks were just over [...]

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