The grain supply and demand report released by the US Department of Agriculture on Thursday (08) brought positive information to the soybean and corn markets but wheat at the Chicago Stock Exchange (Cbot), says DATAGRO Consulting.
For soybeans, the most relevant fact was the increase in the final stocks of the US 2017/18 cycle above that expected by the market [15 million tons]. On the other hand, world stocks of oilseed oil have been revised downwards, now to around 94.4 million tons.
With regard to corn, the cut is above the expected in the US [54 mi tons] and world stocks [119.1 million tons]. In relation to wheat, the rise of US [28.1 million tons] and world inventories [268.8 million tons] stands out.