Trilateral Bakery Update 4-15-2019

Wheat

  • HRW conditions remain good, SRW conditions poor
  • HRS likely to lose acres, but still expected to have multi-year high ending stocks
  • WASDE low impact, ending stocks raise 20 mb
  • Potential bullish factor: US-China trade resolution + near record net short funds.

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Oils

  • Soybean oil flat for the week
  • Palm stock drop below 3 mmt on sharp increase in exports
  • Canola futures also flat last week, waiting for further development on China ban.

 

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