The June WASDE report is typically moved on from quickly because of the importance of the reports at the end of the month. On June 30th the USDA will release the Planted Acreage and Quarterly Grain Stocks reports which will have the potential to move the markets dramatically.
However, there were still a lot of key takeaways from last week’s WASDE publication including the supply and demand estimates for U.S. and world soybean crops. World Agricultural Outlook Board Chair Mark Jekanowski says that changes to the world supply numbers were driven by Argentina’s production.
Jekanowski says strong domestic demand for soy meal led to revisions in the U.S. numbers.
He says the domestic numbers were offset by an adjustment to the export forecast.
That was USDA World Agricultural Outlook Board Chair Mark Jekanowski.
