USDA April supply demand report (4.17)

Wheat: due to the increase of domestic consumption and export of wheat in the United States and the decrease of import volume, it is predicted that the inventory at the end of 1999 / 2000 will be 54 million bushels less than that of last month The inventory report as of March 1 showed that US wheat demand from December to February was higher than expected, with feed and other demand expected to increase by 25 million bushels Due to the reduction of spring wheat planting area, the demand for wheat seed in the United States is expected to decrease by 1 million bushels It is predicted that the U.S wheat import will decrease by 5 million bushels, and the export volume will increase by 25 million bushels The main reason for the increase of export volume is that the shipment volume of foreign food aid will increase in the next few weeks The average seasonal wheat price in the United States is predicted to be $2.50 per bushel This month, the global wheat production, demand and trade volume for 1999 / 2000 are forecast to increase slightly compared with last month's forecast, but the year-end inventory is reduced It is predicted that Argentina's wheat production and export volume will increase by 500000 tons compared with last month's forecast, but Argentina's wheat export will not start shipping until the end of 1999 / 2000 market year in the United States Global wheat imports are forecast to increase, with increases in Indonesia, Pakistan and the Philippines offsetting decreases in Egypt and Venezuela Due to the decrease in wheat stocks in the United States, it is expected that the global end of year wheat stocks will decrease in 1999 / 2000 Coarse grain: as the decrease of corn export in the United States offsets the increase of domestic demand, it is estimated that the year-end inventory of corn in the United States in 1999 / 2000 will increase by 20 million bushels compared with the forecast last month Corn consumption and industrial demand in the United States is expected to grow by 30 million bushels US corn exports are expected to decline by 50 million bushels due to fierce competition in the international market and a decrease in global imports This month, corn prices in the United States are forecast to remain between $1.85 and $1.95 a bushel This month, the global crude grain output, demand, trade volume and year-end inventory of 1999 / 2000 are predicted to be slightly lower than last month's forecast Global corn imports are down from last month's forecast as lower corn imports from Mexico and Canada offset an increase in Brazil's imports It is predicted that China's corn export will increase by 1 million tons, mainly due to the increase of China's corn export sales to South Korea Due to the increase of corn production in South Africa, its export volume is expected to increase The decrease in global corn stocks is due to the increase in China's corn exports Oilseeds: this month's forecast is that U.S soybean exports in 1999 / 2000 will increase by 20 million bushels compared with last month's forecast, to 930 million bushels, mainly because China's soybean imports will increase, thus supporting the increase of U.S soybean export shipments It is estimated that US soybean export will slow down in the second half of this year due to the increase of soybean production in South America It is predicted that the soybean crushing volume in the United States decreased by 10 million bushels to 1.59 billion bushels in 1999 / 2000 due to the decrease of domestic soybean meal demand and export volume U.S soybean meal exports are currently impacted by the increase in South American soybean meal exports US soybean year-end stocks are forecast to decline by 20 million bushels to 305 million bushels, a decrease of 43 million bushels from the same period last year This month, the export volume of US soybean oil is predicted to decrease by 50 million pounds to 1.5 billion pounds, but the domestic consumption of US soybean oil is predicted to increase by 250 million pounds to a record 16.25 billion pounds, which will reduce the year-end inventory of US soybean oil by 200 million pounds to 1.91 billion pounds compared with last month's forecast It is predicted that soybean prices in the United States range from 4.50 to 4.90 US dollars per bushel, with no change compared with last month Soybean oil prices are forecast to rise 0.5 cents per pound to between 15.0 and 17.0 cents It is predicted that the price of soybean meal will increase by 2.50 US dollars per short ton to 155-170 US dollars Global oil seed production is forecast to reach a record 297.6 million tons this month, an increase of 1.9 million tons from last month's forecast and 3.1 million tons from last year, mainly due to the increase in soybean and peanut production in countries other than the United States Global soybean production is forecast to be 154.7 million tons, an increase of 1.1 million tons over last month's forecast This month, Argentina's soybean production is forecast to increase by 1 million tons to a record 21 million tons, of which 8.35 million hectares are harvested, an increase of 150000 hectares over last month's forecast In addition, due to the good growth conditions of Argentine soybean in the late stage, it is expected that the per hectare yield of soybean will reach 2.51 tons, next to the record high of 2.80 tons in 1997 / 1998 Peanut production in Nigeria is forecast this month This month, it is predicted that the global export of oilseeds will increase by 600000 tons, among which the export of soybeans and oilseeds will increase and the export of sunflower seeds will decrease Global soybean exports are forecast to reach a record 42.7 million tons, an increase of 600000 tons over last month's forecast, mainly due to the increase in soybean exports from the United States and Argentina Brazil's soybean exports are forecast to decline this month due to strong domestic crushing and feeding demand The increase of global soybean trade volume is mainly due to the increase of Asian market demand, in which China's soybean imports increased by 300000 tons to a record 5.3 million tons China's rapeseed imports are forecast to grow 200000 tons from last month's forecast, to a record 3.4 million tons This month, China's soybean and rapeseed crushing volume increased by 650000 tons China's total protein meal consumption is expected to grow 3.7% this year, down 5% last year Source: http://168.160.224.atq (author:)