The USDA has released its February World Agricultural Supply and Demand Estimates (WASDE) Report.

Projected 2017/18 U.S. wheat ending stocks were raised this month by 20 million bushels, as higher food use is more than offset by lower exports, while export forecasts for several major competitors are increased.

Global 2017/18 wheat supplies increased, primarily on higher production forecasts for Argentina and Ukraine.

World 2017/18 trade is raised this month as higher exports from Russia, Argentina, and Canada more than offset reduced exports from the EU and the United States. Projected imports are increased for Indonesia and several African countries while reduced for India, the EU, Iran, Brazil, and Mexico.

Projected global ending stocks are 1.9 million tons lower this month at 266.1 million but remain significantly higher than a year ago.

This month’s 2017/18 U.S. corn outlook is for increased exports and reduced stocks. Exports are raised 125 million bushels, reflecting U.S. price competitiveness and reduced exports for Argentina and Ukraine. With no other use changes, U.S. corn ending stocks are lowered 125 million bushels from last month.

Global corn production is lowered 2.8 million tons largely reflecting reductions for Argentina and Ukraine.

Global corn ending stocks, at 203.1 million tons, are down 3.5 million from last month.

This month’s 2017/18 U.S. soybean outlook is for reduced exports and increased ending stocks. Soybean exports for 2017/18 are projected at 2,100 million bushels, down 60 million from last month, reflecting shipments and sales through January and increased export competition on larger supplies in Brazil. With soybean crush unchanged, soybean ending stocks are raised 60 million bushels to 530 million.

Global oilseed production for 2017/18 is projected at 578.6 million tons, down 1.5 million with lower soybean production partly offset by higher cottonseed. Soybean production is reduced 1.7 million tons to 346.9 million. Soybean production for Brazil is projected at 112.0 million tons, up 2.0 million, as favorable weather throughout the growing season has raised yield prospects. Argentina production is reduced 2.0 million tons to 54.0 million on lower harvested area and reduced yields resulting from periods of unseasonable warmth and dryness.

 

Send your news tips, story ideas and comments to [email protected]

More Ag News

Agriflash Headlines for August 13

Twitter Diplomacy Not Good For Local Producers Foothills MP and Associate Agriculture Critic, John Barlow, says it's farmers and ranchers that are paying the price for the Trudeau Liberals Twitter…

Beef Industry Worried New Food Guide Will Mislead Canadians

With the revised Canada's Food Guide set to be released at the end of the year, the beef industry is still advocating for changes. Manager of Public and Stakeholder Engagement with the Canadian…

Saskatchewan Ag Minister Stepping Down

Saskatchewan Agriculture Minister Lyle Stewart has announced plans to step away from the agriculture portfolio as he battles colorectal cancer. This is the second time in four years that he has been…

USDA Releases August WASDE Report

The USDA released its August World Agricultural Supply and Demand Estimates (WASDE) report on Friday. The report forecast record corn (178.4 bushels per acre) and soybean (51.6) yields for the U.S.…

Rare Opportunity to Tour OH Ranch

The public will have a rare opportunity to tour the OH Ranch west of Longview, AB. Saturday, August 18, the Calgary Stampede is opening up the ranch gates as part of Alberta Open Farm Days. People…

Creating Consumer Confidence in Beef

This Spring marked the official creation and funding of an issues management program under the Canadian Cattlemen's Association. In April 2018, the Canadian Beef Cattle Check-Off was increased from…

Agriflash Headlines for August 10

Keeping an Eye on Livestock in this Hot Weather With scorching temperatures in the forecast, producers are reminded to look for signs of heat stress in their livestock. Extension Coordinator with…

Agriflash Headlines for August 9

Saudi Arabia Closes Borders to Canadian Wheat and Barley Saudi Arabia has stopped all imports of Canadian wheat and barley. This is a result of a diplomatic dispute between the two countries. Canada…

Keeping Livestock Cool in this Week's Scorching Temperatures

With scorching temperatures in the forecast, producers are reminded to look for signs of heat stress in their livestock. Extension Coordinator with Alberta Farm Animal Care, Melissa Moggy, says this…

Agriflash Headlines for August 8

A Combine World Record! Last weekend, 303 combines in Winkler, Manitoba harvested a winter wheat field in under seven minutes, setting a new Guinness World Record for the most combines working…

CochraneNow.com is Cochrane's only source for community news and information such as weather and classifieds.

Search the Biz Guide

Login