Report to be released around 11:45am on Thursday, April 9th
By Diego Flammini, Farms.com
As farmers and producers around the globe await the release of April’s World Agricultural Supply and Demand Estimates Report (WASDE), Farms.com has put together a pre-report preview to show where the markets and trends are currently at.
When it comes to corn, the pre-report shows around 1.85 billion bushels, which is up from March’s WASDE number of 1.777 billion bushels. The range is estimated to be between 1.75 and 1.99 billion bushels.
The April pre-report estimates a global ending stocks of 186.9 million metric tons (MMT). That is a slight increase from March’s 185.3 MMT. The range is estimated to be between 184.7 and 191.0 MMT.
Looking at soybeans, the USDA’s pre-report numbers show an ending stocks of about 0.37 billion bushels, a dip from March’s 0.385 billion bushels. The range of estimates is said to be between 0.347 and 0.399.
The global ending stocks in the pre-report shows 89.5 MMT, the same as the numbers March showed. The estimated range is between 88.0 and 91.15 MMT.
On the wheat side of things, the USDA estimates the pre-report ending stocks to be around 0.692 billion bushels for all wheat. That number is up slightly from March’s 0.691 billion bushels and the range could be anywhere between 0.671 and 0.721 billion bushels.
The global ending stocks for wheat are estimated at 197.5 MMT in the April pre-report, down from 197.7 reported in March. The range in wheat could be between 195.4 and 199.0 MMT.
Are you interested in getting WASDE report information as it happens? If so, join Farms.com Chief Commodity Strategist Moe Agostino as he breaks it down instantly by logging onto the webinar which gets started at 11:45am.