For more information call 800-622-7628 !

USDA Data

A collection/archive of USDA Report data and our post-report comments.


John Roach
John Roach
John Roach's Blog

June USDA Supply & Demand

USDA reports mostly unchanged from last month

Small adjustments in U.S. beginning stocks numbers (-30 million bushels for beans; +45 million bushels for corn) were the biggest changes seen on USDA reports Friday. U.S. corn and soybean acreage and yield estimates were left unchanged from last month. Usage changes were insignificant.

U.S. wheat yield was increased 0.3 bpa to 46.9 bpa, which increased production by 8 million bushels. U.S. wheat ending stocks increased by the same 8 million bushels.

Global wheat stocks were reduced less than a million tons, while bean stocks were increased nearly a million tons, and corn stocks increased 5 million tons from last months report.

Although the corn numbers were larger than traders expected, corn prices didn’t take long to recover losses and move higher on the day.

The USDA left Ukraine’s 2022-23 supply demand table for wheat unchanged from last month. They increased Ukraine’s 2022-23 corn production by 5.5 million metric tons and left exports unchanged at 9 million tons (23 million last year).

The USDA made small increases to their South American soybean production estimates but left their corn production estimates unchanged.

Traders did not get any significant number change in the fundamentals. Weather forecasts are signaling the potential for hot dry conditions over the next two weeks, which is much more important to traders than Friday’s USDA report.

 

Source: USDA, StoneX, Reuters



Comments are closed.
Loading
  • Contact Us Today!

    Our team looks forward to hearing from you.


800-622-7628

We look forward to hearing from you.

Daily Grain Plan

The Daily Grain Plan is our award winning daily e-newsletter that is delivered to your inbox every day the market is open.

About Us

Roach Ag. Marketing is a full service advisory firm founded in Perry, Iowa back in 1978 to help farmers do a better job of marketing their crops and livestock. Roach Ag Marketing moved their main office to Boca Raton, Florida after 21 cold winters in Iowa.

Contact Us

Roach Ag Marketing
568 East Yamato Rd. Ste. 200
Boca Raton, FL 33431
Telephone: 800.622.7628
E-mail:
dailygrainplan@roachag.com

The trading of derivatives such as futures and options involves substantial risk of loss and you should fully understand those risks prior to trading. Carefully consider whether trading is suitable for you in light of your circumstances, knowledge and financial resources. Past performance is not necessarily indicative of future results.