January WASDE; Biodiesel Demand Keeps Soybean Oil Stocks in Check

The January WASDE report was fairly vanilla in regards to new information for wheat, corn and soybeans. There were no production changes for wheat. Imports were reduced slightly and there was some reduction in feed and domestic use projections. In the end, exports were left unchanged and ending stocks were boosted by 30 million bushels. The projected price spread narrowed 10…