The US Department of Agriculture’s (USDA) supply and demand report on grains for the 2017/18 season, with global and US-specific data released on Tuesday (10), brought information (Cbot) and negative for wheat, according to DATAGRO’s grain analyst, Flávio Roberto de França Júnior.
According to France Júnior, in soybeans, the highlight is a reduction in US inventories – currently forecast at 14.97 million tonnes – above that expected by the market [15.10 million tons]. The same rationale applies to world stocks, now estimated at 90.80 million tons, also volume above what was expected by the market [92.80 million tons].
In the case of maize, France Júnior underscores the above-expected increase in US inventories, now projected at 55.44 million tons, but reduction in world inventories to 197.78 million tons, also higher than expected by the market.