The April World Agriculture Supply and Demand Estimates (WASDE) released by the USDA showed somewhat significant changes for corn, moderate adjustments for wheat, and minor changes in the soybean balance sheets. Ending stocks for corn were lowered 10 percent, or 150 million bushels, to 1.352 billion bushels. This this lowered the corn stock to use ratio to 9.2 percent, matching the lowest past stock to use ration since 2013. As a result, corn prices are at their highest level since 2013. One thing a low ratio generally causes is increased volatility within the market. Corn use for ethanol production was increased by 25 million bushels to 4.975 billion bushels. Feed and residual use was increased 50 million bushels and exports were forecast 75 million higher to 2.675 billion bushels.
Soybean projected stock levels were unchanged at 120 million bushels….
12.24.2024
Animal fats, oils markets quiet amid Christmas holiday
The US animal fats and oils markets remained steady on Tuesday December 24, amid limited trading due to the Christmas holidays.
Market sources expected activity to remain subdued...
12.24.2024
US November broiler, turkey slaughter down year on year
US animal protein prices were steady on Tuesday December 24, with limited volumes reported to have been traded. With the proximity of the end-of-year holidays, most market participants are...
12.24.2024
US weekly soybean, wheat export inspections rise, corn falls
Weekly export inspections
Export inspections of US grains showed a decline for corn but an increase for soybean and wheat in the week to December 19, according to data...