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Latest WASDE is for increased supplies and lower ending stocks
Published on: Jan 14 2023, 01:28
The latest WASDE report is for increased supplies, higher domestic use, higher exports, and lower ending stocks. Global supplies have risen by 1.3 MMT to 1058.10 MMT due to higher production estimates for Ukraine and the EU. Consumption is also on the higher side and up by 0.2 MMT to 789.70 MMT amid higher feed and residual use for the US. Trade is on the higher side due to higher exports for the EU and Ukraine While India is on the lower side. Exports are expected to be raised by 0.5 MMT for both the EU and Ukraine to 36.50 MMT and 13 MMT respectively.
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