According to our analysis soybeans (ZS) futures prices moved around 44 ticks on USDA WASDE (World Agricultural Supply and Demand Estimates) data on 12 September 2023.

Soybeans (44 ticks)

Charts are exported from JForex (Dukascopy).

The World Agricultural Supply and Demand Estimates (WASDE) report for September 12, 2023, offers the following key insights:

Wheat:

  • The U.S. wheat supply and use outlook for 2023/24 remains unchanged, with a projected season-average farm price of $7.50 per bushel.

  • Globally, wheat supplies, consumption, exports, and ending stocks have decreased compared to the previous month, marking the first year-to-year decline in global wheat production since 2018/19.

  • Major wheat-producing countries, including Australia and Canada, are experiencing decreased production due to adverse weather conditions.

Coarse Grains (Corn):

  • The U.S. corn outlook for 2023/24 anticipates slightly larger supplies and ending stocks, with corn production forecasted at 15.1 billion bushels.

  • Global coarse grain production shows marginal changes, with variations in trade and increased stocks.

  • Foreign corn production remains stable, with Ukraine's production showing an increase and the EU experiencing a slight decline.

  • Major global trade changes include reduced barley exports for Canada and increased exports for Russia.

  • Foreign corn ending stocks have risen, particularly in Brazil, Mexico, Ukraine, and China, offsetting a decline in Argentina.

  • World corn ending stocks have increased relative to the previous month.

Oilseeds (Soybeans):

  • U.S. soybean supply and use changes for 2023/24 include lower beginning stocks, production, crush, exports, and ending stocks.

  • Reduced beginning stocks reflect increased exports in the previous year.

  • Soybean production is projected at 4.1 billion bushels, with a lower yield offset by higher harvested area.

  • The soybean crush and export forecasts have been reduced due to lower supplies, resulting in decreased ending stocks.

  • The U.S. season-average soybean price is forecasted to be $12.90 per bushel.

  • Global oilseed production for 2023/24 has decreased, primarily due to lower rapeseed, sunflowerseed, and cottonseed production in various countries.

  • Global soybean crush and exports have also declined, with reduced crush expected in several major producing nations.

  • Import changes include decreased imports for Pakistan, Thailand, the EU, and Indonesia, while China's imports have increased due to higher crush demand and shipments from Brazil.

These insights from the September 12, 2023, WASDE report provide critical information for stakeholders in the wheat, coarse grains, and oilseeds markets, guiding their decision-making processes in the global agricultural landscape.

Source: https://www.usda.gov/oce/commodity/wasde

Haawks G4A is the fastest machine-readable data feed for USDA data. We are beating big names in the industry by seconds. Coverage includes monthly USDA WASDE (World Agricultural Supply and Demand Estimates), quarterly USDA Grain Stocks and yearly USDA Prospective Plantings and USDA Acreage.

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