The USDA’s May WASDE will feature near-record low US corn and soy stocks/use ratio’s, but US wheat stocks and stocks/use will be slightly above what was released from February’s Outlook Forum. Since February, US 20/21 US end stocks have been raised 16 million bushels. All-wheat planting intentions of 46.4 million acres are 1.4 million above…
The May WASDE is one of the most anticipated WASDE reports of the year as it provides the USDA’s initial forecast for the 2021/22 crop year. Ahead of the report, the production figure that the USDA will use is known. The USDA will use acreage from the March Perspective Plantings report, which is 87.6 Mil…
The table above reflects AgResource’s forecast for global soybean production in the upcoming May WASDE Report. AgResource estimates US production will rebound to 114 MMTs amid expanding acres and a return to trend yields. Brazilian and other S American production is expected to grow modestly following a year of record S American profits and continued…
Canadian farmers intend to seed 26.8 million hectares to major crops in 2021. This is slightly below the trade’s average guess, and importantly only barley and oat intentions managed to exceed expectations. The data by itself leans supportive to spring wheat and global rapeseed futures. Canadian wheat and canola supplies decline in 2021 even assuming…
The USDA in its May WASDE will be forced to peg US corn stocks/use near the lowest level on record – even before the growing season begins! The USDA’s Outlook Forum 21/22 consumption numbers will be used. But US corn seedings will be lowered 900,000 acres from USDA’s initial estimate in February. Beginning stocks will…
