According to our analysis soybeans (ZS) futures prices moved around 48 ticks on USDA WASDE (World Agricultural Supply and Demand Estimates) and USDA Grain Stocks data on 12 January 2024.

Soybeans (48 ticks)

Charts are exported from JForex (Dukascopy).

WASDE Report (January 2024) - Key Highlights:

  • Wheat: U.S. wheat ending stocks lowered due to decreased supplies, offset by less use. Global wheat outlook shows increased supplies, consumption, trade, and ending stocks.

  • Corn: U.S. corn production at a record high, leading to greater production and higher ending stocks. Globally, coarse grain production is forecasted to increase.

  • Rice: Slightly higher U.S. rice supplies and higher ending stocks. Globally, a decrease in supplies, consumption, trade, and ending stocks.

  • Oilseeds: U.S. oilseed production up, led by increases in soybean, rapeseed, and sunflowerseed crops. Global soybean production slightly raised.

  • Sugar: Mexico's sugar production projected lower. U.S. sugar supply increased due to higher production and imports.

  • Livestock, Poultry, and Dairy: Increased production in beef, pork, and broiler for 2023. Adjustments in exports and imports across various animal products.

  • Cotton: U.S. cotton forecasts show lower production, exports, and ending stocks. Globally, ending stocks are forecasted higher.

NASS Corn, Soybean, and Wheat Stocks Report (as of December 1, 2023):

  • Corn Stocks: Total of 12.2 billion bushels, up 13% from the previous year. On-farm stocks increased by 16%, and off-farm stocks up by 7%.

  • Soybean Stocks: Total of 3.00 billion bushels, down 1% from the previous year. On-farm stocks decreased by 2%, while off-farm stocks slightly increased.

  • Wheat Stocks: Total of 1.41 billion bushels, up 8% from the previous year. On-farm stocks increased by 9%, and off-farm stocks rose by 7%.

These reports provide a comprehensive overview of the current state and projections for key agricultural commodities in the U.S., including their production, stocks, and expected market dynamics. The WASDE report's insights are crucial for global agricultural markets, while the NASS stock data specifically informs about the domestic supply levels of corn, soybeans, and wheat. Both sets of information are essential for market analysts, policymakers, and stakeholders in the agricultural sector for informed decision-making and market analysis.

Source: https://www.usda.gov/oce/commodity/wasde/wasde0124.pdf, https://downloads.usda.library.cornell.edu/usda-esmis/files/xg94hp534/vd66xk611/4m90gh16q/grst0124.pdf

Haawks G4A is one of the fastest machine-readable data feeds 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.

Please let us know your feedback. If you are interested in timestamps, please send us an email to sales@haawks.com.

Comment