Tridge summary
The USDA has increased U.S. wheat ending stocks to 598 million bushels, raising the production projections for wheat in Australia, Canada, EU, and Russia. However, both the import and export outlooks have been lowered. The corn and soybean ending stocks remain the same. The global ending stocks for wheat, corn, and soybeans are also expected to rise slightly. The U.S. is projected to see a decrease in soybean production due to reductions in China and Paraguay. The export outlook for Ukraine has been increased for corn.
Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.
Original content
The USDA raised U.S. wheat ending stocks while leaving corn and soybeans unchanged on the month.U.S. wheat ending stocks are seen at 598 million bushels, up 16 million from November, but still well below last marketing year, with USDA lowering both the import and export outlooks.There were no adjustments to the balance sheets for either corn or soybeans, holding at 1.493 billion and 340 million bushels, respectively, with the USDA’s final 2021 production totals out in January.World corn and wheat ending stocks were up modestly, while soybeans were down slightly.The USDA did increase wheat production for Australia, Canada, the European Union, and Russia, and corn for Ukraine but left South American corn and soybean crop estimates unchanged.The USDA’s next set of supply, demand, and production numbers is out January 12th. Breakdowns of selected supply and demand tables:2021/22 U.S. wheat ending stocks are seen at 598 million bushels, compared to 583 million in November and 845 ...
Source: Brownfield Ag
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