WASDE Report 2.08.23
Updated: Feb 27
22/23 Corn Ending Stocks were increased 25 mln bu, right in line with trade expectations. Arg corn production was reduced 5 mmt, just below average trade guess
22/23 Bean ending stocks increased 15 mln bu, toward the high end of estimates. Bzl bean production left unchanged and Arg production decreased 4.5mmt, both in line with trade estimates.
Overall, neutral to corn and wheat, slightly bearish to beans. Corn unchanged, beans -7, wheat +2 at the moment.