FI and USDA PDF’s attached
Few points
Global new crop ending stocks were above expectations for corn, soybeans, and wheat.
2022-23
Argentina soybean and corn production for 2022-23 was unchanged.
Brazil 2022-23 corn production was upward revised 5 million tons to 130MMT, 4 million above the trade guess.
Brazil soybean production was taken up 1MMT.
US old crop stocks
Soybeans near expectations
Corn 51 million above
Wheat 5 million below
US new crop stocks
Soybeans 42 million above
Corn 120 million above
Wheat 46 million below
| 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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crop0523.pdf