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USDA April S&D and South American Production Numbers 4/11/24

The numbers were:

  • Negative Corn

  • Negative Beans

  • Neutral Wheat


18 Minutes after the report:

  • May corn -3

  • May beans -5

  • July CBOT wheat -7

  • July KC wheat -7

  • Sept Spring wheat -6



Bottom line, in the past 24 hours, respected agencies reduced South American corn production by 8.299 mil. mts (326.7 mil. bushels).

 

Details:

 

CONAB (Brazil’s USDA) released its monthly update earlier this morning. It put Brazil's safrinha corn production at 85.6 mil mts., down 16.75 mil mts from last year. Total corn production estimated to be 110.96 mil. mts, down 1.79 mil from their March estimate.

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