Attached
Winter wheat seedings larger than expected.
US soybean exports lowered 55 mil bu. Production down 70…stocks down 10
US SBO exports down 300 and food use up 300…stocks no change
US corn stocks down 15
they lowered US corn production 200, feed use down 25, food down 10, and exports shaved 150 mullion bu
US all wheat stocks down only 4 million. Feed was raised 30, beginning stocks were up 29 from a 29 million bushels decline in 2021-22 feed use by 29
Arg corn production was down only 3MMT and Brazil lowered 1. Arg soybean production down 4MMT and Brazil raised 1MMT
they lowered old crop Arg corn production by 2MMT, and raised old crop Brazil soybean production by 2.5MMT….interesting they are addressing old crop for world and US wheat
December 1 grain stocks indicate more corn and wheat was used for feed than expected. December 1 soybean stocks were 110 million bushels below trade expectations in large part to a revision in production.
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
Trading of futures, options, swaps and other derivatives is risky and is not suitable for all persons. All of these investment products are leveraged, and you can lose more than your initial deposit. Each investment product is offered only to and from jurisdictions where solicitation and sale are lawful, and in accordance with applicable laws and regulations in such jurisdiction. The information provided here should not be relied upon as a substitute for independent research before making your investment decisions. Futures International, LLC is merely providing this information for your general information and the information does not take into account any particular individual’s investment objectives, financial situation, or needs. All investors should obtain advice based on their unique situation before making any investment decision. The contents of this communication and any attachments are for informational purposes only and under no circumstances should they be construed as an offer to buy or sell, or a solicitation to buy or sell any future, option, swap or other derivative. The sources for the information and any opinions in this communication are believed to be reliable, but Futures International, LLC does not warrant or guarantee the accuracy of such information or opinions. Futures International, LLC and its principals and employees may take positions different from any positions described in this communication. Past results are not necessarily indicative of future results.
FI0123f.pdf