USDA April 8, 2022
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Started by metmike - April 7, 2022, 1:44 p.m.

@kannbwx

Analysts see USDA taking 2021/22 U.S. endings stocks a little lower than last month for #corn & #soybeans, but little change for #wheat

Reminder: March 1 corn & wheat stocks were below trade expectations, soybeans were above. Last week's acreages do not factor in this month.

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By metmike - April 7, 2022, 1:45 p.m.
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n@kannbwx

The trade sees world #corn & #wheat ending stocks mostly unchanged from last month but #soybeans down a little. The most important thing to watch for in this month's report is any possible impacts on global grain trade from the #Ukraine/#Russia conflict.

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By metmike - April 7, 2022, 1:46 p.m.
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@kannbwx

South American production numbers are also something to watch on Friday.

 #Brazil's #soybeans are seen down nearly another 2 mmt, Argy down less than 1 mmt.

 A cut to #Argentina #corn is expected to offset an increase in Brazil.

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By metmike - April 7, 2022, 1:48 p.m.
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@kannbwx

Conab raised #Brazil's #corn crop by more than 3 mmt and raised exports 2 mmt. Output of #soybeans was down 0.34 mmt from last month's outlook and exports fell more than 3 mmt.

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By metmike - April 8, 2022, 12:42 p.m.
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@kannbwx

I just noticed this. USDA will be livestreaming the WASDE/Crop Production briefings for the first time ever immediately following Friday's report. This is the link for more info: https://nass.usda.gov/Newsroom/2022/03-16-2022.php

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By metmike - April 8, 2022, 12:43 p.m.
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@kannbwx

USDA reduces #Brazils's #soybeans to 125 mmt, basically what was expected.

 Note that Brazil's 20/21 crop went up 1.5 mmt.

 Brazil's 21/22 #corn up 2 mmt. No changes for #Argentina, but the 20/21 corn crop added 0.5 mmt.

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By metmike - April 8, 2022, 12:44 p.m.
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@kannbwx

U.S. #corn stocks unchanged from March, #soybeans down on increased exports, #wheat up on reduced exports.

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By metmike - April 8, 2022, 12:45 p.m.
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@kannbwx

On #soybeans, #China's imports declined 3 mmt to 91 mmt, well below 20/21's 99.76. China's crush declined by the same amount.

 #Brazil soy exports down 2.75 mmt to 82.75, and that is vs 81.65 last year. 

Brazil meal exports up 750kt to 17.25 mmt, Argy unch at 28 mmt.

By metmike - April 8, 2022, 12:46 p.m.
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@kannbwx

World #wheat stocks land below expectations, #corn above, #soybeans just a hair below. 

#Russia + #Ukraine wheat exports net unch from March, domestic usage way up in #India.

 #China corn imports down 3 mmt to 23 mmt.

 Ukraine corn exp down 4.5 mmt to 23 mmt, US corn exp unch.

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By Jim_M - April 8, 2022, 12:49 p.m.
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Thanks for posting, Mike.  

By metmike - April 8, 2022, 12:58 p.m.
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YW Jim!

Thanks for contributing!

By metmike - April 10, 2022, 11:52 p.m.
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@kannbwx

USDA has reduced 2021/22 ending stocks for U.S. #soybeans for 3 straight months now on increasing demand.

 Carryout is now at 260 mln bushels vs 257 mbu last year, basically the same. 21/22 stocks-to-use is down to 5.85% vs 6.45% last month, 8% in Jan and 5.7% last year.

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