USDA cuts US corn ending stocks, but holds soybean stocks steady in December report

Published Dec 10, 2024

Tridge summary

The USDA's latest supply and demand report has led to significant changes in the futures of cereal crops. While soybean stocks remain steady at 12.79 million tons, corn ending stocks have dropped from 49.23 to 44.15 million tons due to increased ethanol production and exports. Global soybean production and stocks have been slightly increased, while global corn production estimates have been lowered. China's soybean import forecast remains unchanged at 109 million tons.

Disclaimer: The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

The USDA (United States Department of Agriculture) released its new monthly supply and demand report and made considerable changes to the figures for final US stocks. Soybean stocks, on the other hand, remained unchanged. The market reaction on the Chicago Stock Exchange was immediate to the changes for the cereal, and futures rose more than 1% this Tuesday (10). US SOYBEAN & WORLD Final US soybean stocks were maintained at 12.79 million tons, in line with market expectations, which had already indicated that few changes should be presented in this December report. US exports and crushing were maintained. On the global stage, the USDA changed its estimate for production, which went from 425.4 to 427.14 million tons, with stocks also being revised upwards, going from 131.74 to 131.87 million tons. China's soybean imports are still expected at 109 million tons. US & WORLD CORN U.S. corn ending stocks fell from 49.23 to 44.15 million tons, slightly below market expectations. In the ...

Source: NoticiasAgricolas