Exports have been a big focus this year. This week’s WASDE report showed some improvement with corn, but that was not the case across the board.
“I think the corn report was supportive enough of the export increase and the tightening of world numbers. Interesting to note that we went below 24% stocks-to-use ratios globally in corn with the December WASDE numbers that takes you down to the lowest since 2013 when it was about 22.5%. So we’ve got world corn and world wheat stocks down at 1011, year lows when you look at it from the demand perspective and the leftover supply. Beans, however, still sitting with a record high ending stocks number globally,” said Mike Zuzolo.
Ag trade continues to be an issue. While exports are holding around the same levels from last year, ag imports are up sharply.
