2 PDF’s attached
A little puzzling post March 31 grain stocks that indicated some warranted changes to the residual categories for soybeans and corn, but USDA left both unchanged. Both US soybean and corn ending stocks were also left unchanged. All wheat US stocks were increased 30 million bushels. A large cut to Argentina’s soybean production is supporting prices.
US soybean stocks 210 vs. 210 last month (0), +12 million vs. trade
US corn stocks 1342 vs. 1342 last month (0), +23 million vs. trade
US wheat stocks 598 vs. 568 last month (30), +24 million vs. trade
WLD soy stocks 100.3 vs. 100.0 last month (0.3), +1.7 million vs. trade
WLD corn stocks 295.4 vs. 296.5 last month (-1.1), +0.3 million vs. trade
WLD wheat stocks 265.1 vs. 267.2 last month (-2.1), -2.0 million vs. trade
Brazil Soy 154.0 vs. 153.0 last month (1), +0.3 million vs. trade
Arg. Soy 27.0 vs. 33.0 last month (-6), -2.3 million vs. trade
Brazil Corn 125.0 vs. 125.0 last month (0), -1.1 million vs. trade
Arg. Corn 37.0 vs. 40.0 last month (-3), -0.1 million vs. trade
| Terry Reilly Senior Commodity Analyst – Grain and Oilseeds |
| Futures International One Lincoln Center 18W140 Butterfield Rd. Suite 1450 Oakbrook terrace, Il. 60181 |
| Work: 312.604.1366 ICE IM: treilly1 Skype IM: fi.treilly |
| treilly@futures-int.com
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FI0423f.pdf