Home Market Strong Soybean Demand to Lower Stocks

Strong Soybean Demand to Lower Stocks

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soybeans-womanholdingCorn– USDA will leave production unchanged on this specific report. We see a minor 20 million increase in corn for ethanol. The increase will be limited due to ethanol production losses starting in March. No changes are seen for feed/residual or exports at this time. We lower our Brazil production estimate from 74 to now 73 mt. USDA is at 75.

 

Soybeans– USDA will leave production unchanged on this specific report. We see crush increasing by 10 million and exports by 5. We leave our Brazil production figure unchanged at 93 mt vs. USDA 94.

 

Wheat – We have left production unchanged on this report. A 10 million bushel reduction in feed/residual is assumed.

 

Demand is a key issue we will discuss in our next Ag Leaders webinar. We’ll talk with USDA’s Richard Omeara on some of the upcoming key demand issues. Registration is free, here

 

 

 

Supply & Demand, to be RELEASED ON 12/10/14

 

PRODUCTION           13/14     14/15       14/15

In million bushels    USDA      USDA   Allendale

Corn                 13925     14475       14475

Soybeans              3358      3927        3927

All Wheat             2135      2026        2026

Other Spring           534       595         595

Durum                   58        53          53

Winter                1543      1378        1378

 HRW                   747       738         738

 SRW                   568       455         455

 WW                    227       184         184

 

US ENDING STOCKS           USDA       ALDL        USDA      ALDL

in million bushels         13/14     13/14       14/15     14/15

US Corn                     1236      1236        2008      1983

US Beans                      92        92         450       435

US Wheat                     590       590         644       654

 

WORLD ENDING STOCKS         USDA      ALDL       USDA     ALDL

in million metric tonnes   13/14     13/14      14/15    14/15

World Corn                172.99    172.99     191.50   191.03

World Soybeans             66.85     66.85      90.28    89.79

World Wheat               185.72    185.72     192.90   192.98