USDA WASDE Recap April 10, 2018
Tuesday, April 10, 2018, 1:04 PM
Submitted by: Landus Cooperative
There wasn’t much change this month in the Supply & Demand estimate from the USDA. Corn ending stocks came in at 2.182 billion bushels, only 7 million bushels lower than the average trade estimate. South American estimates were trimmed back some, but not as much as the trade expected. With this report behind us, we now turn to weather and weekly crop progress reports for updates on planting progress.
The report on soybeans was marginally bullish. Ending stocks were posted at 550 mln bu, 5 mln less than last month and about 25 mln less than the average trade guess. Both Argentine and Brazilian crop sizes were lower than the average trade guess. Soyoil stocks had a significant jump as crushers continue running at a rampant pace.
All-in-all, a neutral report. Weather is now the focus as we enter peak planting season for the U.S. corn and soybean crop.
Corn steady to 1/4c lower
Soybeans 5c higher
Thanks and have a great day!