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Feb 8 USDA Supply/Demand Report


  • Not a lot of changes.
  • Biggest change USDA lowered US soybean exports, raising carryouts.
  • Ukraine Corn and Wheat exports were higher.
  • USDA estimated US 2023/34 soybean carryout at 315 mil bu vs 284 expected and 280 previous. Lower exports.
  • USDA estimated US 2023/34 corn carryout at 2,172 mil bu vs 2,146 expected and 2,162 previous. Lower feed.
  • USDA estimated US 2023/34 wheat carryout at 658 mil bu vs 647 expected and 648 previous. Lower food.
  • CONAB estimated Brazil corn crop at 113.7 mmt vs 117.6 previous and 131.9 ly
  • CONAB estimated Brazil soybean crop at 149.4 mmt vs 155.3 previous and 154.6 ly


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