these charts will surprise you
The trade war with China and its impact upon soybean sales has been front and center in today’s news. That is understandable given that China is our number one export market. However, there is a worldwide market for grains and we sell to a number of other countries, primarily Mexico, the European Union and Japan, but also Indonesia, Egypt, Taiwan and Vietnam. In addition to exports, our domestic use of corn and soybeans has risen. Consequently, even though the USDA is forecasting very large crops, you may well be surprised to know that the amount of corn and soybeans in inventory at the end of the year is not expected to be that large.
World Agricultural Supply and Demand Estimates are prepared and released monthly. This report, known as WASDE, provides forecasts for the supply and use of both corn and soybeans for the US and the world. Many other crops are contained in this report as well. Kansas State University has an excellent website where they have produced charts based upon the data in the WASDE Report.
These charts will surprise you in regard to your belief about corn and soybeans as shaped by the news.
