The U.S. Department of Agriculture (USDA) just released the latest World Agricultural Supply and Demand Estimates (WASDE) report for June, which our markets specialist say is mostly consistent with expectations.
Markets Specialists Marlin Bohling, Chris Swift have been gathering the data and coming it over it for analysis. RJ O’Brien Senior Vice President of Agriculture P.J. Quaid also joined us on Market Day Report to provide expert commentary on the release.
Weather was expected to play a big role in that USDA forecast due to the drought conditions have continued to hammer the winter wheat market. However, since the report was largely in-line with expectations, the month report did not move the meters very much.
Just after the WASDE numbers dropped, Bohling reported the corn market stayed steady. On the other hand, soybeans saw a bit of a boost. As expected, the wheat market did sag a bit.
Here’s what the June WASDE numbers show (gallery):
