According to the current December WASDE report, if we look at the projections in terms of food group;
For the 2021/22 period of wheat, forecasts are formed within the framework of low supply, stable demand, declining exports and high ending stocks. The supply outlook is still low due to slower-than-expected imports, lower exports and slower shipments. Additionally, US export prices are expected to remain high for the remainder of 2021/22, further reducing US competitiveness. Despite increases in Russia and Canada, production levels remain significantly below last year.
This month’s outlook for 2021/22 US corn supply and use is unchanged from last month. Overseas corn production is expected to be higher as increases in the EU and Ukraine more than offset the decline in China. Soybean supply and use forecasts for 2021/22 are unchanged from last month. Increasing soybean oil sources and food, feed, and other industrial use of soybean oil increased, offsetting lower canola and cottonseed oil consumption. US seasonal average soybean and soybean oil price projections for 2021/22 were unchanged at $12.10 per bushel and 65 cents per pound, respectively.
Kaynak Tera Yatırım
Hibya Haber Ajansı
Kaynak: Hibya Haber Ajansı