(WASHINGTON D.C.)- On Tuesday, USDA released the April World Agricultural Supply and Demand Estimates report with a few changes of note. This report incorporated the grain stocks numbers that were updated at the end of March.
For South America, USDA lowered Argentina’s soybean production another 6 mmt from last month down to 27 mmt. That was below the average trade estimate of 29.3 mmt. Argentina’s corn production was down 3 mmt to 37 mmt.
USDA left Brazil corn production unchanged at 125 mmt and soybean production went
Brazil #corn is unchanged at 125 mmt. Trade was expecting 126 mmt. #Soybeans up 1 mmt to 154 mmt, near trade expectations. #oatt