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USDA: View expectations for April supply and demand report

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The United States Department of Agriculture (USDA) releases this Friday (8), at 1:00 pm (Brasilia time), the supply and demand report for the month of April. Check market expectations:

Soy

The market estimates ending stocks of 7.20mt of the American oilseed for the 2021/22 crop, up from 7.77mt in the March forecast. Regarding global inventories, maintenance of 101.74m t is expected in the 2020/21 season; for 2021/22, cut estimate to 88.50m t, versus previous forecast of 89.96m t.

Soy production in Brazil and Argentina

Analysts estimate the USDA cut Argentina's soybean production estimate to 42.60mt from 43.50mt last month. In relation to Brazil, increase to 128.10m t, compared to the previous forecast of 127.00m t.



Corn

US 2021/22 corn ending stocks estimate at 35.60m t, up from 36.57m t in the report released last month. In relation to the world, analysts predict, for the 2020/21 crop, maintenance of 291.45m tonnes; for 2021/22, cut to 300.20mt, versus previous projection of 300.97mt.

Corn production Brazil and Argentina

For the Brazilian crop, the expectation is for a slight increase in the estimate to 114.70m t, compared to 114.00m t forecast in March; in the case of Argentina, reduction to 51.70m t, against 53.00m t projected previously.

Wheat

The USDA's March supply and demand report projected the US country's ending wheat inventories at 17.77m t. For this month, experts predict 17.80m t. Globally, USDA is expected to maintain 290.27m t in the 2020/21 crop; for 2021/22, 282.20m t, against a forecast of 281.51m t last month.

Cotton

Market expectations are for 3.50 million bales for ending stocks in the United States for the 2021/22 crop, the same number projected last month. For global inventories, it is estimated that 87.32 million bales will be maintained for the 2020/21 season; in 2021/22, 82.60 million bales, compared to 82.57 expected in March. See expectations in analysis section of the DATAGRO Portal.

This text was translated by machine from Brazilian Portuguese.