Aug 12.24 USDA Supply/Demand Report

SUPPLY/DEMAND HIGHLIGHTS

 

USDA confirms record yields for US corn however mostly offset via lower acres.

  • Record yield of 183.1 bpa.
  • Harvested acres down 728,000 to 82.7 mil.
  • Production at 15.147 bil. slightly above expectations.
  • Ending stocks 2.073 bil. just below expectations on increased exports

Bean production and stocks well above expectation.

  • Record yield of 53.2 bpa
  • Harvested acres up 1 mil. to 86.271 mil. vs. expectations of 150,000 acre reduction          
  • Production record high at 4.589 bil. 
  • Ending stocks at 560 mil. bu. well above expectations
  • Global stocks expected to soar to 134 mmt well above range of estimates

All Wheat production at low end of expectations

  • Winter wheat production raised 20 mil. bu. to 1.361 bil.
  • Spring wheat down 34 mil. to 544 mil. 38 mil. below expectations
  • All wheat production at 1.982 bil. down 20 mil. bu. vs. expected 10 mil. bu. increase

Infographic

(Click for larger image)

Risk Warning: Investments in Equities, Contracts for Difference (CFDs) in any instrument, Futures, Options, Derivatives and Foreign Exchange can fluctuate in value. Investors should therefore be aware that they may not realise the initial amount invested and may incur additional liabilities. These investments may be subject to above average financial risk of loss. Investors should consider their financial circumstances, investment experience and if it is appropriate to invest. If necessary, seek independent financial advice.

ADM Investor Services International Limited, registered in England No. 2547805, is authorised and regulated by the Financial Conduct Authority [FRN 148474] and is a member of the London Stock Exchange. Registered office: 3rd Floor, The Minster Building, 21 Mincing Lane, London EC3R 7AG.                  

A subsidiary of Archer Daniels Midland Company.

© 2024 ADM Investor Services International Limited.

Futures and options trading involve significant risk of loss and may not be suitable for everyone.  Therefore, carefully consider whether such trading is suitable for you in light of your financial condition.  The information and comments contained herein is provided by ADMIS and in no way should be construed to be information provided by ADM.  The author of this report did not have a financial interest in any of the contracts discussed in this report at the time the report was prepared.  The information provided is designed to assist in your analysis and evaluation of the futures and options markets.  However, any decisions you may make to buy, sell or hold a futures or options position on such research are entirely your own and not in any way deemed to be endorsed by or attributed to ADMIS. Copyright ADM Investor Services, Inc.

Latest News & Market Commentary

Explore the latest edition of The Ghost in the Machine

Explore Now