2 PDF’s attached
FI snap & USDA full report
US soybean stocks 260 vs. 285 last month (-25), -2 million vs. trade
US corn stocks 1440 vs. 1440 last month (0), 25 million vs. trade
US wheat stocks 678 vs. 653 last month (25), 22 million vs. trade
WLD soy stocks 89.6 vs. 90.0 last month (-0.4), 0.8 million vs. trade
WLD corn stocks 305.5 vs. 301.0 last month (4.5), 4.6 million vs. trade
WLD wheat stocks 278.4 vs. 281.5 last month (-3.1), -3.0 million vs. trade
Brazil Soy 125.0 vs. 127.0 last month (-2), -0.1 million vs. trade
Arg. Soy 43.5 vs. 43.5 last month (0), 0.7 million vs. trade
Brazil Corn 116.0 vs. 114.0 last month (2), 0.9 million vs. trade
Arg. Corn 53.0 vs. 53.0 last month (0), 1.0 million vs. trade
Above expectations for US corn and wheat stocks and near for soybeans. Slightly bearish for corn. USDA took US exports for soybeans higher by 25 million. They lowered the meal yield, increased imports & domestic use and lowered exports. Soybean oil exports were taken higher by 100 million pounds. Corn for ethanol was lifted 25 million bushels. Feed did not change. All-wheat exports were lowered 15 million and feed 10 million bushels. Argentina corn production was unchanged and Brazil was taken up 2.0 million tons. Argentina soybeans were left unchanged and Brazil soybeans were lowered 2 million. Ukraine corn prod was unchanged from last month at 41.9 million tons and corn exports were lowered 4.5 million from last month to 23.00.
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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FI0422f.pdf