The USDA’s upcoming WASDE report is expected to show a decline in US and global soybean ending stocks, while production in Brazil and Argentina is predicted to remain steady, as indicated by a recent Fastmarkets poll.
According to the forthcoming USDA World Agricultural Supply and Demand Estimates (WASDE) report, both US and global soybean ending stocks are anticipated to decrease. This insight emerges from a Fastmarkets poll conducted with nine traders and analysts on March 10. Meanwhile, soybean production levels in Brazil and Argentina are projected to remain stable, indicating no significant changes in output for these major producers.
The imminent WASDE report suggests a reduction in soybean ending stocks both in the United States and globally, while production in Argentina and Brazil is set to remain unchanged. These findings reflect ongoing market stability amidst fluctuations in international agricultural demand and supply.
Original Source: www.agricensus.com
