A humdrum April WASDE

Sugar No changes to demand Stocks-to-use ratio up to a healthy 14.9%  Although prices don't reflect that Supplies increased on added high-tier imports USDA reversed course on Mexico Wheat Reduction in ending stocks Small change to the U.S. balance sheet Soy complex All about Argentina! Drought and lower production Brazil offsets lower numbers to a degree More active Chinese importing from Brazil Corn Slight reduction in global ending stocks U.S. shows reduction in imports, no change in ending stocks Markets are watching for planting intentions and upcoming 2023/24 crop The farmers are out in the fields! 2023 Spring Market Seminar registration is open! April 26, 2023 in Oak Brook, IL Visit mckeany-flavell.com to register!   Host: Michael Caughlan, President & CEOExpert: Kevin Combs, Vice President – Global Sweeteners SpecialistExpert: Craig Ruffolo, Vice President – Commodity Specialist