Home > News > April WASDE Slightly Bearish on Wheat, Neutral for Corn and Soybeans

April WASDE Slightly Bearish on Wheat, Neutral for Corn and Soybeans

Posted April 12, 2023
in Top Ag News

The latest USDA World Agricultural Supply and Demand Estimates (WASDE) report offered little change to U.S. corn and soybean numbers. Still, it lowered Argentina’s corn production by 3 million metric tons (mmt) to 37 mmt but kept Brazil’s production steady despite anticipated higher production. Despite the neutrality for corn and soybeans, the report proved slightly bearish for wheat.

Corn export demand was pegged at 1.85 billion bushels (bb), on par from last month. Soybean ending stocks were also unchanged at 210 mb despite expectations from traders that USDA would lower its estimates. Wheat ending stocks increased to 598 mb, the lowest ending-stocks number in nine years.

Read more on the latest WASDE report here.

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