Not many surprises in the report today, but a few things of note. Below is audio with Jesse Allen and Arlan Suderman of Stone X recapping the highlights of the report. Below is the full update from DTN.
OMAHA (DTN) — USDA on Friday lowered corn ending stocks for the 2020-21 by 150 million bushels (mb) to 1.352 billion bushels (bb), but held pat with soybean ending stocks at 120 mb.
USDA raised corn use for feed, seed and industrial use, as well as exports to drop the ending stocks for the crop.
USDA on Friday released its monthly World Agricultural Supply and Demand Estimates (WASDE) report.
According to DTN Lead Analyst Todd Hultman, Friday’s U.S. ending stocks estimates were neutral for corn, soybeans and wheat. Meanwhile, the world ending stocks estimates were bullish for corn and wheat, but bearish for soybeans.
Stay tuned throughout the morning and refresh this page often as we will be sending a series of updates with the important highlights from today’s reports, including commentary from our analysts.
You can also access the full reports here:
— Crop Production: https://www.nass.usda.gov/…
— World Agricultural Supply and Demand Estimates (WASDE):