The USDA has released its February World Agricultural Supply and Demand Estimates (WASDE) Report.

Projected 2017/18 U.S. wheat ending stocks were raised this month by 20 million bushels, as higher food use is more than offset by lower exports, while export forecasts for several major competitors are increased.

Global 2017/18 wheat supplies increased, primarily on higher production forecasts for Argentina and Ukraine.

World 2017/18 trade is raised this month as higher exports from Russia, Argentina, and Canada more than offset reduced exports from the EU and the United States. Projected imports are increased for Indonesia and several African countries while reduced for India, the EU, Iran, Brazil, and Mexico.

Projected global ending stocks are 1.9 million tons lower this month at 266.1 million but remain significantly higher than a year ago.

This month’s 2017/18 U.S. corn outlook is for increased exports and reduced stocks. Exports are raised 125 million bushels, reflecting U.S. price competitiveness and reduced exports for Argentina and Ukraine. With no other use changes, U.S. corn ending stocks are lowered 125 million bushels from last month.

Global corn production is lowered 2.8 million tons largely reflecting reductions for Argentina and Ukraine.

Global corn ending stocks, at 203.1 million tons, are down 3.5 million from last month.

This month’s 2017/18 U.S. soybean outlook is for reduced exports and increased ending stocks. Soybean exports for 2017/18 are projected at 2,100 million bushels, down 60 million from last month, reflecting shipments and sales through January and increased export competition on larger supplies in Brazil. With soybean crush unchanged, soybean ending stocks are raised 60 million bushels to 530 million.

Global oilseed production for 2017/18 is projected at 578.6 million tons, down 1.5 million with lower soybean production partly offset by higher cottonseed. Soybean production is reduced 1.7 million tons to 346.9 million. Soybean production for Brazil is projected at 112.0 million tons, up 2.0 million, as favorable weather throughout the growing season has raised yield prospects. Argentina production is reduced 2.0 million tons to 54.0 million on lower harvested area and reduced yields resulting from periods of unseasonable warmth and dryness.

 

Send your news tips, story ideas and comments to [email protected]

More Ag News

Calgary Vet Honoured at Canadian Beef Industry Conference

A vet who's made substantial contributions to cattle health and welfare was honoured in London, Ontario last week at the Canadian Beef Industry Conference. Dr. Eugene Janzen is a professor and…

Canada's Chicken Industry Reduces Carbon Footprint

A recent study on Canada's chicken industry shows that the sector has reduced its carbon footprint by 37 per cent in the last 40 years. A consultation firm specializing in corporate social…

CP Rail Says They're Ready To Move This Year's Crop

CP Rail says it's ready to move this year's crop. The total crop to move is estimated to be 83.4 million metric tonnes, a five percent increase over the previous five-year average. "Our agricultural…

Agriflash Headlines for August 21

Celebrating Local Food Alberta's billion-dollar local food sector took centre stage last week. It was the Province's first ever Local Food Week, which will now be the third week of every August.…

Health Canada Proposes Phase Out of Two Neonicotinoid Pesticides

Following a series of special reviews, Health Canada is proposing to phase out use for two neonicotinoid pesticides over the next three to five years. According to findings from Health Canada's Pest…

Only One Per Cent of Crops in the Bins Across Alberta

Harvest is underway in Alberta, and as expected, Alberta Agriculture and Forestry is reporting yields below normal in the Southern Region due to dry conditions. Their latest crop report as of…

Market Access a Trending Topic at Canadian Beef Industry Conference

NAFTA (the North American Free Trade Agreement) was a hot topic at the Canadian Beef Industry Conference in London, Ontario last week. The Canadian Cattlemen's Association's Director of Government…

Dry Weather Means Another Lean Harvest

Another dry year for farmers here in the Foothills as harvest is starting to get underway. Ag Fieldman for Vulcan County, Kelly Malmberg, says he had hope for at least an average crop of wheat,…

Agriflash Headlines for August 13

Twitter Diplomacy Not Good For Local Producers Foothills MP and Associate Agriculture Critic, John Barlow, says it's farmers and ranchers that are paying the price for the Trudeau Liberals Twitter…

Beef Industry Worried New Food Guide Will Mislead Canadians

With the revised Canada's Food Guide set to be released at the end of the year, the beef industry is still advocating for changes. Manager of Public and Stakeholder Engagement with the Canadian…

OkotoksOnline.com is Okotoks' only source for community news and information such as weather and classifieds.

Login