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RFS and USDA July bean and corn balance sheet
How does the recently announced Renewable Fuel Standard proposal play a role in USDA's U.S. soybean and corn supply and demand estimate in the July WASDE report? USDA Chief Economist Seth Meyer says the RFS proposal plays a big role in the soybean numbers from this month’s WASDE report. Both soybean crush and domestic use numbers are up in the current marketing year forecasts. Meyer says the impact on U.S. corn supply and demand based on the latest RFS proposal is less well known. That was...