On Friday, USDA released the April World Agricultural Supply and Demand Estimates (WASDE) report at 11am CST. There were not many changes or surprises in the report. US ending stocks for corn were unchanged at 1.440 billion bushels while soybeans were lowered to 0.260 b/bu on increased exports. US wheat ending stocks were raised to 0.678 b/bu on reduced exports. World wheat ending stocks came in below expectations while corn was above and soybeans just below expectations. South American numbers came in with surprisingly no changes to Argentina crops while Brazil’s soybean crop was lowered to 125 mmt, which is what the trade expected.
Ahead of and after the report, grains remain mostly higher as of 11:45am CST.
View the full WASDE Report here: https://www.usda.gov/oce/commodity/wasde/wasde0422.pdf