By Andi Anderson
The April 10, 2025 WASDE report brought encouraging news for corn and soybeans, showing higher demand across several key areas. U.S. corn exports were increased by 100 million bushels, while soybean crush rose by 10 million bushels. Soybean oil exports also climbed, up 500 million pounds.
These adjustments led to positive price reactions. After the report's release, corn rose 8 cents, soybeans 14 cents, while wheat fell 1 cent. Before the report, corn had been up 3 cents, soybeans 10 cents, and wheat down 3 cents.
Ending stocks reflect the tightening supply:
- U.S. corn ending stocks are now projected at 1.465 billion bushels, down from last month's 1.540 billion.
- Soybeans dropped slightly to 375 million bushels from 380 million.
- Wheat ending stocks increased to 846 million bushels, up from 819 million.
South American production remains unchanged from last month:
- Argentina: 49 million tons of soybeans and 50 million tons of corn.
- Brazil: 169 million tons of soybeans and 126 million tons of corn.
A significant market update came from Argentina, where major soybean crusher Vicentin filed for bankruptcy, impacting 9% of the nation’s crush capacity. This may keep more soybeans in Argentina rather than exported as soybean meal.
Brazil continues to increase output and is expected to export 62% of its soybean production. The country’s soybean output has grown from 97.1 million tons in 2014–15 to 169 million tons in 2024–25.
Meanwhile, U.S. tariffs and the potential for more have caused volatility in equity and oil markets, creating a “risk-off” mood. Soybeans have experienced the largest price swings, with a 57-cent range this week. Corn followed with a 24-cent range.
Markets remain cautious as trade tensions and global uncertainties persist.
Photo Credit: gettyimages-zoran-zeremski
Categories: Ohio, General