Trilateral Bakery Update 8-19-2019


  • Bearish WASDE surprise for corn pulls wheat lower
  • Market reflecting tightening SRW stocks scenario
  • Market is still awaiting spring wheat harvest to commence with only 8% completed nationally
  • World wheat stocks are still 10 mmt above a year ago


  • World and domestic edible oils usage ratios continue to drop
  • NOPA crush has sharply lower SBO stocks on higher production
  • Markets are turning higher

Read full report here