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….
05.03.2024
Biodiesel imports fall to 8-month low in March; exports rise to 3-month high
Biodiesel imported into the US fell in March for the first time in four months while biodiesel exported from the US reached a three-month high.
Import demand from...
05.03.2024
BFT, soybean oil weekly average prices tumble
For the week to Friday, prices were broadly lower compared with the prior week’s average. Packer bleachable fancy tallow was down by 2.2% from the prior week’s average on...
05.03.2024
US animal protein prices remain under pressure; soymeal rises
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