Soybeans, corn, wheat and oats all trade higher. Rice lower.
From DTN Progressive Farmer:
April's USDA WASDE Report Sees Soybean Exports Picking Up
This article was originally posted at 11:01 a.m. CDT. It was updated at 12:30 p.m.
**
OMAHA (DTN) -- USDA on Friday released its April Crop Production and World Agricultural Supply and Demand Estimates (WASDE) reports.
Citing the uncertainty caused by the Russian invasion of Ukraine, USDA again lowered projected corn exports from Ukraine by 4.5 million metric tons (mmt) to 23 mmt. USDA also again lowered Ukraine's wheat exports 1 mmt to 19 mmt.
USDA sees soybean exports picking up, partially offsetting declines in Brazil, Ukraine and Russia, and that resulted in lower soybean ending stocks or the 2021-22 crop year. USDA pegs those at 260 million bushels, in line with trade expectations.
The agency lowered its forecast for Brazil soybean production to 125 million metric tons, a 2 mmt decline.
According to DTN Lead Analyst Todd Hultman, Friday's new U.S. ending stocks estimates were neutral for corn and soybeans, slightly bearish for wheat. Hultman sees Friday's world ending stocks estimates from USDA as bearish for corn, slightly bearish for soybeans and bullish for wheat....
....MUCH MORE
