Grainnet Podcast: Arlan Suderman, Waterstreet Solutions, Provides Analysis of the USDA's April WASDE Report
Date Posted: April 10, 2013
The U.S. Department of Agriculture has released its World Agricultural Supply and Demand Estimate for the month of April.
Corn use was reduced by 150 million bushels for feed and residual, but increased by 50 million bushels for additional ethanol use. Exports were cut by 25 million bushels, and the carryout was raised by 125 million bushels to 757 million, under the 836 million anticipated by the market.
Soybean use was raised by 20 million bushels for the domestic crush and 5 million for exports. That was offset by a 25 million cut in the residual, to keep the carryout at 125 million bushels. The trade expected a 136 million carryout.
Wheat ending stocks were raised by 15 million bushels due to a 14 million bushel reduction in the estimate for wheat feeding and slight cut in seed use. The carryout was reset to 731 million bushels, compared to the 727 million anticipated by the market.
Arlen Suderman of Waterstreet Solutions(316-729-4599)offers his analysis of the report details and its implications.