Following the release of the grain supply and demand report by the US Department of Agriculture (USDA), soybean prices fell slightly on the Chicago Stock Exchange (CBOT), basically reflecting the maintenance of final stocks of the United States of the new crop, while it was expected by reduction, and increase above expected in the global stocks of the old and new harvest.
On the other hand, the closing of the soybean spot contract (January) happened with higher prices for rumors and then confirmation of China’s return to the US market.
For maize, the revisions of the information were predominantly price negative. The highlight is for the well-above-expected increase in US and world inventories of the new crop. In contrast, the USDA brought data with a reduction in world stocks of the old crop, while the market was waiting for stability. The market closed higher, after falling immediately after the release, with soy and wheat support.
For the wheat market, negative price information prevailed. The negative side for increases in final US and global inventories was 2018/19, while lower or lower increases were expected. On the day of the report (11 December) the spot fell after the disclosure and closed down, although ending the week in strong bullish.
This text was translated by machine from Brazilian Portuguese.