World Perspectives
wheat

What USDA Didn’t Say

This week’s WASDE report from USDA was considered slightly bullish for prices, although that certainly wasn’t apparent by the market’s action during the past few trading sessions. U.S. corn and soybean ending supplies were reduced. World demand remains very strong, but crop problems stretching from the Black Sea to Australia are causing world production to slip. The one aspect of the report that has raised questions is the U.S. winter wheat production estimate, and June can be a difficult month for assessing that crop. Many of the variables at play will be resolved by the time of the July report, however. Chief among these is the “harvested” acreage number, which is critical to any final production estimate. T...

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Market Commentary: Looking for Market Movers

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