The WASDE report comes as uncertainties grow surrounding the world economy.
Analysts are bracing for fallout surrounding the war in Ukraine and unrest in the Black Sea. Couple that with rising diesel prices and low levels on inland waterways, and things are anything but predictable when it comes to forecasting the markets.
“Looking at export demand, and we’re looking at the dollar a couple of decades-long and high, and the economic uncertainty that weighs heavily on our export demand outlook,” said USDA’s Mark Jekanowski.
