No big adjustments expected in Friday’s WASDE

Most analysts are not expecting much deviation from last week’s Quarterly Grain Stocks figures when USDA releases its April Supply and Demand Report Friday.

Iowa State University Extension economist Chad Hart says a surprise or two would more likely be seen next month.

“Just because that May report will also contain the first estimates really looking at the 2021 crop coming up.”

He tells Brownfield the Prospective Plantings report March 31st set the stage for bigger adjustments in the May supply and demand numbers.

Hart says one area that has his attention going into Friday’s report is feed and residual demand.

“If they’re going to try to rebalance the supply versus the demand, it’s likely going to be in that feed and residual because that’s the one big category where we don’t have some sort of weekly snapshot or monthly snapshot of usage over time.”

He’s also curious about corn demand from ethanol as USDA slowly works that number back up.

The April Supply and Demand estimates will be released Friday at 11am Central.

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