Decline in US and Global Soybean Ending Stocks; Stable Outputs in Brazil and Argentina
The USDA’s upcoming WASDE report forecasts a decline in U.S. and global soybean ending stocks while expecting stable production levels in Brazil and Argentina. This points to a tightening supply against unchanged output from key producers.
The forthcoming USDA World Agricultural Supply and Demand Estimates (WASDE) project a decline in both U.S. and global soybean ending stocks. This trend suggests a tightening supply in the market. In contrast, soybean production levels in the major producing countries, Brazil and Argentina, are anticipated to remain steady, with no significant changes expected in their output levels. This information was reported by sources to Fastmarkets on March 10.
In summary, the USDA’s WASDE outlook indicates a reduction in soybean ending stocks for both the United States and globally, underscoring a shift in supply availability. However, production in Brazil and Argentina is predicted to remain stable, suggesting no immediate fluctuations in output from these critical agricultural regions.
Original Source: www.agricensus.com
