Corn and Soybean Markets Face Oversupply Challenges Amidst China's Shift to Cheaper Imports
TL;DR Summary
The latest World Agricultural Supply and Demand Estimates (WASDE) report by the USDA shows that corn and soy production in the US will outpace demand in the coming year, leading to higher ending stocks. The report also indicates that world ending stocks for corn, soybeans, and wheat will increase in the 2023/2024 marketing year. The projections for soybean ending stocks for the 2023/2024 marketing year were larger than expected, while wheat numbers were positive.
- USDA: Corn and soy production will outpace demand in coming year Successful Farming
- Jerry Gulke: May WASDE a Real Game Changer for Corn and Soybeans Agweb Powered by Farm Journal
- China May Cancel More US Corn in Shift to Cheaper Brazil Cargoes Yahoo Finance
- Daily Grain Express 5/11/2023 Agweb Powered by Farm Journal
- US Corn Exports Underperform After China Cancellations Bloomberg Television
- View Full Coverage on Google News
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