The May World Agricultural Supply and Demand Estimates (WASDE) report from USDA is often one of the agency’s more interesting reports. That’s because it reveals an initial look at U.S. corn and soybean yield and production estimates.
But today’s report threw another wildcard into the mix when it reported a sharp reduction in winter wheat production potential that sent prices soaring in Thursday’s session. Corn and soybean prices were also firm after traders digested the data.
What were the biggest takeaways of the day? A discussion with Farm Futures grain market analyst Jacqueline Holland covered a lot of ground as we discussed everything from planting progress trends, an eye-opening soybean production prediction, how the war in Ukraine is generating additional ample volatility and more. Click above to listen.