September WASDE: Voilà, it’s magic!

Wheat No changes to the U.S. balance sheet Global production and stocks are down Ukraine production is up: Impressive given the war Corn USDA finds more acreage: Magic! Minor reduction to carry-in Look to the Grain Stocks report out end-of-month for a better idea on 2022/23 consumption Have we reached a soft floor for Dec-23 corn futures? Soybeans USDA finds more acreage here, too: More magic! Yield, production, and crush all lowered Predictions for total increased soybean meal Weaker exports in 2023/24? Soybean oil Battle between oil and meal for crush continues! Ending stocks? Wait until consumption for 2022/23 has been finalized Soybean oil prices: What to focus on Sugar Plenty of fireworks to see here! Production raised beyond Kevin’s expectations Louisiana production lowered to 2019/20 levels High-tier exports increased to craziness Are sugar deliveries back to pre-COVID levels? Mexico gets a haircut on its quota Don’t miss tomorrow’s webinar! Inflation and the Economy webinar with Shawn Bingham Wednesday, Sep. 13, 2023, 11am PT / 2pm ET Go to mckeany-flavell.com to register!   Host: Michael Caughlan, President & CEO Expert: Nicole Thomas, Vice President – Information Services Expert: Kevin Combs, Vice President – Global Sweeteners Specialist