The upcoming WASDE report predicts a decline in U.S. and global soybean ending stocks, with Argentina’s and Brazil’s production remaining unchanged according to a survey of traders.
The upcoming USDA World Agricultural Supply and Demand Estimates (WASDE) report is anticipated to exhibit a reduction in both U.S. and global soybean ending stocks. This forecast is supported by a survey conducted involving nine traders and analysts dated March 10. Despite the decline in stock levels, the soybean production output in both Brazil and Argentina is expected to remain stable and unchanged from previous estimates.
In summary, the WASDE report is poised to reveal a decrease in soybean ending stocks for the U.S. and globally, while maintaining production levels in major producing countries like Brazil and Argentina. This trend reflects shifting supply dynamics in the soybean market on an international scale.
Original Source: www.agricensus.com
