FI Snapshot and USDA S&D attached
Bearish wheat, neutral to slightly negative soybeans, and slightly supportive corn.
World wheat changes don’t seem to fully reflect Black Sea problems. They lowered Ukraine and Russian wheat exports, partially offset by Australia and other countries. US wheat exports down 10 million.
US soybean exports up 40
SBO for biofuel down 300
US soybean stocks 285 vs. 325 last month (-40), 7 million vs. trade
US corn stocks 1440 vs. 1540 last month (-100), -39 million vs. trade
US wheat stocks 653 vs. 648 last month (5), 25 million vs. trade
WLD soy stocks 90.0 vs. 92.8 last month (-2.9), 0.5 million vs. trade
WLD corn stocks 301.0 vs. 302.2 last month (-1.3), -0.1 million vs. trade
WLD wheat stocks 281.5 vs. 278.2 last month (3.3), 3.9 million vs. trade
Brazil Soy 127.0 vs. 134.0 last month (-7), -2.0 million vs. trade
Arg. Soy 43.5 vs. 45.0 last month (-1.5), 0.1 million vs. trade
Brazil Corn 114.0 vs. 114.0 last month (0), 1.0 million vs. trade
Arg. Corn 53.0 vs. 54.0 last month (-1), 0.9 million vs. trade
Terry Reilly
Senior Commodity Analyst – Grain and Oilseeds
Futures International
One Lincoln Center
18 W 140 Butterfield Rd.
Oakbrook Terrace, Il. 60181
W: 312.604.1366
ICE IM: treilly1
Skype: fi.treilly
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