June WASDEs typically provide few surprises and little market movement. Taken individually, not one of USDA’s new estimates and projections is very surprising. Collectively, they emphasize a trend that markets have been slow to acknowledge, which is that U.S. and world supplies of grain and soybeans have declined in 2017/18 and are almost certain to decrease further in 2018/19. This has sponsored a generally bullish reaction from futures markets. The tables below show the key numbers from the June WASDE released today. Please note that all those for 2018/19 (except for U.S. wheat production) are USDA projections rather than estimates.
USDA estimates combined U.S. ending stocks of corn, soybeans and wheat will be 3.687 billion bush...
What You Need to Know Today: Brazilian President Luiz Inácio Lula da Silva secured reelection on Sunday, defeating right-wing Senator Flávio Bolsonaro despite trailing in the first round of voting. The surprise victory triggered a sharp selloff in Brazilian financial market...
The 2026 midterm elections are a week from tomorrow, but early voting has been taking place for weeks. At stake is control of Congress, including the House of Representatives, where all 435 seats are contested, and the Senate, where approximately one-third of the seats are up for election. Farm...
Key Takeaways: Total U.S. crop acres (excluding hay) are forecast to expand fractionally this year due to greater oilseed crop and winter wheat plantings. One of the key drivers of this year’s crop outlook is input costs, and crops with a lower cost profile have an advantage in producers...
