A humdrum April WASDE

• Sugar
  • No changes to demand
  • Stocks-to-use ratio up to a healthy 14.9% 
    • Although prices don't reflect that
  • Supplies increased on added high-tier imports
  • USDA reversed course on Mexico
• Wheat
  • Reduction in ending stocks
  • Small change to the U.S. balance sheet
• Soy complex
  • All about Argentina!
    • Drought and lower production
  • Brazil offsets lower numbers to a degree
  • More active Chinese importing from Brazil
• Corn
  • Slight reduction in global ending stocks
  • U.S. shows reduction in imports, no change in ending stocks
• Markets are watching for planting intentions and upcoming 2023/24 crop
  • The farmers are out in the fields!
• 2023 Spring Market Seminar registration is open!
  • April 26, 2023 in Oak Brook, IL
  • Visit mckeany-flavell.com to register!

 

Host: Michael Caughlan, President & CEO
Expert: Kevin Combs, Vice President – Global Sweeteners Specialist
Expert: Craig Ruffolo, Vice President – Commodity Specialist