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March 8 2018 USDA WASDE Report

Grain Marketing

 Today the USDA released its latest WASDE report. See the full results below.

The report was bullish corn on better than expected US carryout.

The USDA also bumped ethanol by 50 MB and exports were sharply higher by 175 MB.

US soy stocks were reported to be higher by 20 MB based on a sluggish export outlook.

In Argentina, the USDA was at 48 MMT on soybeans and 36 MMT on corn, but after the close the Buenos Aires Exchange pegged them at 42 MMT and 34 MMT.

On the close, Dec. Corn is at $4.10. Nov. Beans closed at $10.43. 


 

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US Ending Stocks 2017/2018 (in billions of bushels)

 

March Actual

March Expected

March Range

Wheat

1.034

1.015

0.995-1.099

Corn

2.127

2.312

2.240-2.352

Soybeans

0.555

0.530

0.490-0.580


World Ending Stocks 2017/2018 (in millions of tonnes)

 

March 

Actual

March 

Expected

March 

Range

Wheat

268.89

265.63

263.00-267.50

Corn

199.17

199.36

192.30-203.10

Soybeans

94.40

95.31

93.00-98.10



South America Crop Report (Millions of tons)
 

Expected

Range

2017 

Seedings

Corn-Argentina

36.00

36.58

34.00-38.50

Soybeans-Argentina

47.00

48.36

43.00-53.00

Corn-Brazil

94.50

92.22

86.20-96.00

Soybeans-Brazil

113.00

113.82

112.00-116.00

 

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